Chinese electric vehicle maker Xiaopeng Motors announced that it has raised a RMB4 billion (US$587 million) series B+ round led by Chinese investment firm Primavera Capital Group, Morningside Venture Capital and its founder He Xiaopeng. Hillhouse Capital, Eastern Bell Venture Capital, Hong Kong businessman Adrian Cheng’s K11 Investment, also participated in the round, valuing the firm at RMB$25 billion (US$3.7 billion), according to Xiaopeng Motor’s announcement.