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Electric cars in China

Tesla's China challenger Xpeng raises $400m with Xiaomi backing

Smartphone maker and EV startup to co-develop smart mobility ecosystem

Guangzhou-based Xpeng Motors is working with smartphone maker Xiaomi to build a smart mobility system. (Photo courtesy of Xpeng Motors)

NEW YORK -- China's Xpeng Motors announced it has raised $400 million from investors including smartphone heavyweight Xiaomi as the electric vehicle startup looks to integrate more smart technology into its vehicles.

The Alibaba Group Holding-backed startup said it will work more closely with Xiaomi to build a smart mobility ecosystem.

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