November 13 - 13:11
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Xiaomi backs Tesla-rival Xpeng in $400 million round
Xpeng, the Chinese automaker backed by Alibaba, has now received investment from Xiaomi. The Tesla rival has pocketed $400 million from a new funding round. Xiaomi, the smartphone maker, has dipped its toes into the water as Xpeng looks to accelerate its production of EVs. Xiaomi's investment has been made to advance innovation in intelligent hardware and IoT.
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