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Chinese EV startup Xpeng Motors raises $1.5 billion in U.S. public market debut

Chinese electric vehicle startup XPeng Inc. raised $1.5 billion through an initial public offering in the U.S. as investor interest in EVs and clean energy outstripped concerns over escalating tensions between the U.S. and China.
The automaker, which is backed by Chinese e-commerce giant Alibaba and Xiaomi Corp, said in a filing that it sold 99.7 million shares for $15 each, debut, raising about $1.5 billion. The automaker had originally planned to sell 85 million shares with a price guidance of between $11 and $13.
Shares of Xpeng began trading Thursday on the New York Stock Exchange under the ticker symbol XPEV.
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