Chinese EV startup Xpend raises $400 million in latest funding round

On Wednesday, Alibaba Group Holding Ltd backed Chinese electric vehicle (EV) manufacturer Xpeng stated it has raised $400 million from investors including Xiaomi Corp, to fund its growth. The fundraising comes at a time when industry watchers as well as bankers describe as an increasingly tough financing environment for Chinese EV startups who are jostling…

Foxconn to use proceeds of Shanghai IPO to fund 8 projects totaling to $8 billion

The projects it plans on funding will focus on building 5G solutions, smart manufacturing platforms and cloud computing services. On Monday, Foxconn, the world’s largest contract manufacturer of electronics, stated it plans on using the proceeds of one of its subsidiaries, which got listed in Shanghai, to fund 8 projects totaling to $4 billion (27.3…