Xpeng Motors wants to raise $1.11b through its upcoming U.S. IPO. The company develops smart electric vehicles that have advanced AI and autonomous driving technologies.
- Its Xpeng P7 all-electric sports sedan has level 3 automated driving features powered by NVIDIA DRIVE's AGX Xavier AI compute platform.
- The company intends to sell 85m American depositary shares (ADS), with plans to price ordinary class A shares between $11 and $13. Xpeng is currently valued at around $9.1b.
- Bank of America Securities, JPMorgan, and Credit Suisse are serving as underwriters. Xpeng is set to officially price its IPO this week.
A version of this story first appeared in Inside Electric Vehicles.