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XPeng leads investment in $200 million fund focused on ‘frontier’ tech

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A new Xpeng P7 car is shown in the Xpeng Motors flagship store in a shopping mall. Xpeng P7 is one of the two popular models of Xpeng motors.

Zhang Peng | LightRocket | Getty Images

China’s XPeng said Thursday it led an investment into a new $200 million fund focused on backing electric vehicles and “frontier technology” start-ups.

The fund, called Rockets Capital, also counts a number of high-profile venture capital players among the investors including IDG Capital, eGarden, Sequoia China, 5Y Capital and GGV Capital.

Rockets Capital will focus on “venture and growth stage investments in Smart EV industry value chain, clean energy, and frontier technology areas.”

XPeng did not expand on what…



Source cnbc.com

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