Xpeng stands as the all-new startup electric car of China. However, the startup claims that they are fully equipped to handle the established players of the industry. Hence they have surfaced with their recent investment claims. And if that stands out to be correct, then many will think that the company holds the correct proportion of success. However, last week, Xpeng claims to receive an investment of $350 million in its current funding round.
Foxconn, the manufacturer of iPhone, and Alibaba, the e-commerce company, are being counted as the investors in Xpeng. Hence the list is even bigger. Hence Xpeng claims to get a funding of around $800 million. However, the company made his entry with their G3 SUV. Hence the car has been revealed at Las Vegas Consumer Electronics Show in January. However, Xpeng made its first impression by divulging the G3 SUV. Moreover, the model is been consider to be a competitor of Tesla Model X. However the model is been in testing procedure from the year 2016. But undoubtedly the car brings with itself some stunning designing work.
However, by this year’s finish, Xpeng is planning to launch their G3 SUV in China itself. Hence they are tagging the vehicle at a price of $40,000, which is nearly third of the Model X’s asking price in the country. However, Xpeng has not yet surfaced with the specifications of the G3. But it is expected to beat an electric powertrain that will produce around 190 hp. Hence claims also say that the vehicle will be capable of accelerating 300 km (186 miles). Moreover, to cut the cost of the G3 and make sure that the vehicle does run on the road, Xpeng is counting on Haima, the Chinese carmaker. Hence the production of the G3 will be contracted out to Haima. So, we need to wait till the car unwraps by this year’s end.