Photo credit: Xpeng

Chinese electric vehicle upstart Xpeng has announced it’s raised $500 million in new funding from a group of investors including Aspex, Coatue Management, Sequoia Capital China, and Hillhouse Capital. The new funding, in particular, is an extension of a Series C that Xpeng closed last year. With the new funding, Xpeng has now raised a total of $2.2 billion since its inception.

Xpeng is notably fresh off the debut of a new electric sedan that recently began being delivered to customers. In its entirety, the five-year-old company has released two vehicles, a sedan, and an SUV. Xpeng is one of several electric vehicle upstarts that have emerged to make their dents in a growing electric vehicle market.

Xpeng is headquartered in the city of Guangzhou, China but with additional offices in Beijing, Shanghai, San Diego, and the Silicon Valley area. The company has two manufacturing plants in China.