Xpeng Inc, a manufacturer of electric vehicles, intends to list its common shares on the Hong Kong Stock Exchange.
The move is part of a global offering that could raise up to $2 billion. In Hong Kong, the company's Class A ordinary shares will be convertible with its depositary shares. Xpeng, led by Chief Executive Officer He Xiaopeng, is working with an in-house team of engineers to develop smart-car technologies such as autonomous driving functions.
It primarily sells in China, the world's largest automobile market, where it competes with Tesla Inc. and Nio Inc.