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Alibaba, Foxconn, Idg Lead $348m Investment In Chinese Smart Car Maker Xiaopeng Motors – China Money Network
Chinese electric vehicle maker Xiaopeng Motors has raised RMB2.2 billion (US$348 million) in a series B round led by Alibaba Group Holding Ltd., IDG Capital and Taiwanese electronics manufacturer Hon Hai Precision Industry Co., Ltd., also known as Foxconn. Jack Ma-backed Yunfeng Capital, Apoletto Asia, CICC, and existing investors GGV Capital, Matrix Partners China and Morningside Venture Capital also participated in the round. The firm has so far raised more than RMB5 billion (US$791 million), it said Monday in Hong ... Full investment news article
Relevent to this post: CICC
Louisiana Economic Development,
Chinese Investors Keep Losing Billions Online. Here’s Why. - The New York Times
SHANGHAI — The company’s name appeared in ads for the local marathon. Its logo was emblazoned on the jerseys of two professional soccer teams in Spain. Its founder had been lauded by the government’s official television channel. To investors, it seemed like a safe bet. For years, it was. Then some of them tried to take their money out. Now as much as $5 billion is missing, the head of the company is in jail and in one city, angry ... Full investment news article
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