China’s electric car start-up, Xiaopeng motor, has expanded its IPO size in the U.S. and set its price above the guidance range, raising about $1.5 billion. According to a filing with the securities and Exchange Commission on Wednesday, the company will sell 99.7 million American Depository shares for $15 a share. The Guangzhou based company had planned to issue 85 million shares at $11 to $13 A share. Based on the number of outstanding shares listed in the document, the company will be valued at $10.8 billion in the offering. < p > < p > the strong rise in Tesla’s auto share price since this year has stimulated investor demand for the industry and pushed similar companies to seek listing. Ideal car, another Chinese electric car start-up, expanded its U.S. IPO in July, raising $1.26 billion after implementing the over allotment rights. The share price has doubled since it went public. In the six months ended June 30, the company had revenue of $142 million and a net loss of $113 million, according to the company. According to the company’s application documents, as of July 31, the delivery volume of Xiaopeng’s first G3 SUV reached 18741. The company’s second model, the p7, began delivery in May and had shipped 1966 vehicles as of July 31, according to documents. < / P > < p > the value of the deposited shares is twice that of ordinary class A shares. The company’s voting rights are controlled by the holders of class B and class C shares, each of which has 10 and 5 votes. The Guangzhou based company has completed the latest round of financing with a total amount of $900 million, including $100 million from Qatar Investment Authority and another $100 million from Abu Dhabi’s Mubadala, the company said in its prospectus. Alibaba also invested $215 million to increase its investment in Xiaopeng. Credit Suisse Group and J.P. Morgan Chase Bank of America are the lead arrangers of this issue. Xiaopeng is due to start trading on the New York Stock Exchange on Thursday, under the code xpev. [image] Google secretly tests 6GHz networks in 17 states of the United States