← ‘New Forces’ (independent EV startups)
XPeng
"X-Peng."
429.4K, 2025XPeng was founded August 15, 2014 by Xia Heng and He Tao, both former senior GAC Group executives. Early backers included He Xiaopeng, founder of UCWeb and a former Alibaba executive, and Xiaomi founder Lei Jun. From its first models, XPeng bet not on luxury but on autonomous-driving tech and in-house software.
Distinguishing feature
One of the investors behind XPeng's earliest days — Xiaomi founder Lei Jun — launched his own competing car brand, Xiaomi Auto, a decade later, turning a former backer into a direct rival in the same market.