Selling more than 99.7 million shares for $15 each in its Wall Street debut, Chinese electric car start-up Xpeng Motors has raised more money than expected from its New York IPO amid the ongoing tensions between the US and China.
Its stock will begin trading on the New York Stock Exchange on Thursday, under the ticker XPEV, CNN reported.
The China-based company designs, develops, manufactures, and markets smart electric vehicles for domestic consumption.
Xpeng Motors produces two vehicles, an SUV called the G3 and a 4-door sports sedan called the P7.
Founded in 2015, the Guangzhou-based competes head-on against America-based Tesla Motors.
