According to reports in foreign media, Xiaopeng Motors plans to submit its IPO application this week and the company will be officially listed on New York Stock Exchange on August 27, 2020.

Prior to this, Xiaopeng Motors officially submitted IPO documents to the U.S. Securities and Exchange Commission, aiming to be listed on NYSE with stock code "XPEV". The company plans to raise USD1 billion. Its underwriters include Bank of America Securities, Credit Suisse, and JPMorgan Chase.

Before this IPO, Xiaopeng Motors has completed C+ and C++ rounds of financing of USD947 million, which were led by Alibaba, Hillhouse Capital, and Sequoia Capital. Xiaopeng Motors expects to hold more than CNY8.5 billion in cash assets.

Public files show that Xiaopeng Motors was established in 2015 and the company has been continuously raising funds over the past five years. It completed ten rounds of financing and gained about CNY20.3 billion in total.