The money-burning battle between Ali and Tencent hit the car industry

Speaking of Xiaopeng, what was the first thing you thought of?

Not to mention spicy Li Xiaopeng, let alone gymnastics Li Xiaopeng. Today, the Xiaopeng I want to talk about is He Xiaopeng’s Internet car company——

Xiaopeng Motors.

Xiaopeng Motors is also the key role that indirectly triggered the battle between Ali and Tencent in the car industry.


Ali’s Xiaopeng Automobile

According to a Bloomberg report, Xiaopeng Motors plans to raise 17 billion yuan (US$2.7 billion) in funds this year, with Alibaba Group Holding Co., Ltd. and Foxconn Technology Group both listed as its investors.

Speaking of the relationship between Alibaba and Xiaopeng Motors, we have to talk about the founder of Xiaopeng Motors, He Xiaopeng.

He Xiaopeng can be regarded as the first generation of Internet entrepreneurs,

He founded UC Browser.

UC browser is the world’s most used third-party mobile phone browser. In June 2014, UC was acquired by Alibaba and merged into Alibaba’s mobile business group.

In 2014, the year when UC was in Ali’s hands, He Xiaopeng went to Tesla’s headquarters. After coming back, He Xiaopeng made up his mind to create Xiaopeng Motors named after him, and started the road of making cars on the Internet.

From left to right are Lu Songqing, Chairman of Foxconn Group Hongteng Precision, He Xiaopeng, Chairman of Xiaopeng Motors, Cai Chongxin, Executive Vice Chairman of Alibaba Group, and Yang Fei, Partner of IDG Capital

Of course, Alibaba continues to be the Xiaopeng platform on the road to making cars.

On January 29, Xiaopeng Motors held a press conference in Hong Kong, announcing the launch of a Series B financing totaling 2.2 billion yuan, and received joint lead investment support from Alibaba Group, Foxconn and IDG Capital. According to reports, after the completion of the B round of financing, Xiaopeng Motors will raise more than RMB 5 billion from the capital market.

At the Xpeng Motors Series B financing conference, Alibaba Group Executive Vice Chairman Cai Chongxin also said with a smile: I have been chasing He Xiaopeng for ten years, (Ali) will continue to chase Xiaopeng for another ten years and another twenty years. , Are all things we have to do.

It seems that Alibaba has already done a protracted battle to burn money in car-making games.


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