Xpeng CEO He Xiaopeng. Photo credit: Shawn Koh/Fortune, under Creative Commons license

Just after securing $500 million in funding, Chinese electric vehicle upstart Xpeng has been reported to have raised an additional $300 million from investors including the sovereign wealth fund of the state of Qatar. Reports note of Xpeng securing the funding in preparation for a public listing possibly in the U.S. and that the company may further raise even more funding. With the new reported funding, Xpeng has now raised some $2.5 billion in total funding since its inception.

Xpeng’s new fundraise notably comes on the heels of Li Auto, another Chinese electric vehicle upstart, closing an initial public offering in the U.S. that raised $1.1 billion for its operations.