Xpeng Motors, which understands China better, went public on the U.S. stock market, with its share price soaring 41.47%

Last night, Xpeng Motors was officially listed on the New York Stock Exchange with the stock code "XPEV". The closing price of the day was US$21.22, a 41.47% surge from the issue price, and its market value reached US$15 billion.

At this point, China’s three new car-making forces - NIO, Li Auto, and Xpeng - have officially joined forces on the U.S. stock market.

Data from the prospectus shows that in the first half of 2020, Xpeng Motors' total revenue was 1.003 billion yuan, gross profit was -36.116 million yuan, and its net loss was 795 million yuan, mainly from R&D investment, totaling 630 million yuan.

After the listing, He Xiaopeng, CEO of Xpeng Motors, will hold 27.8% of the shares and 58.9% of the voting rights. Alibaba holds 12.7% of Xpeng shares and 14.9% of the voting rights.

After the listing ceremony, He Xiaopeng said in an interview with reporters, "The current valuations are all floating clouds. At the moment when the electric vehicle track is just starting, there is not much value in temporarily leading. How to achieve success in the long-term development of more than ten years is more important."

Xiaopeng Motors' slogan is "to make smart cars that understand China better", and many people also regard Xiaopeng Motors as "China's Tesla". In this regard, He Xiaopeng said bluntly, "Xiaopeng is Xiaopeng, and we will make the best smart cars in China."

He Xiaopeng said that today, the competition between smart cars and traditional fuel vehicles is still a competition of energy sources. But in a few years, the competition between the two sides will turn into a competition between software and hardware and pure hardware. Today, most people logically believe that the difference between smart cars and traditional cars is more about power and experience, but from a larger perspective, the two are a combination of software and hardware, and the competition is not pure hardware.

As for the future outlook, He Xiaopeng believes that in the next three to four years, China's electric vehicles' share of the entire passenger car market will increase several times to 10%-15%, and high-quality smart cars will become the main body among them.

"Chinese electric cars are generally cheap, but I think that is the value of quantity, not the value of quality," said He Xiaopeng.

As a winner of Toutiao's Qingyun Plan and Baijiahao's Bai+ Plan, the 2019 Baidu Digital Author of the Year, the Baijiahao's Most Popular Author in the Technology Field, the 2019 Sogou Technology and Culture Author, and the 2021 Baijiahao Quarterly Influential Creator, he has won many awards, including the 2013 Sohu Best Industry Media Person, the 2015 China New Media Entrepreneurship Competition Beijing Third Place, the 2015 Guangmang Experience Award, the 2015 China New Media Entrepreneurship Competition Finals Third Place, and the 2018 Baidu Dynamic Annual Powerful Celebrity.