Chinese Tesla challenger debuts in Hong Kong with US$1.8bil IPO

Flying high: Customers looking at the P7 wing limited edition electric vehicle at an XPeng dealership in Shanghai. The IPO comes as Chinese companies face pressure to list closer to home. — Bloomberg

Hong Kong: Shares in electric carmaker XPeng make a debut in Hong Kong, as Chinese-based firms trading in the United States seek to avoid the glare of Beijing’s regulators by listing closer to home.

XPeng, which is already Nasdaq-listed and is chasing Tesla in China, is the latest Chinese company to list on the Hong Kong stock exchange, following other big tech firms such as video platform Bilibili and search giant Baidu.