Alibaba, UAE-Backed Tesla Competitor Set To IPO In The U.S.

Chinese electric carmakers continue savoring becoming Tesla-competitive in their home market — while keeping the door open to Tesla’s home court and stock market success. Chinese electric car start-up Xpeng Motors has filed for an IPO on the New York Stock Exchange. That comes after raising $400 million from Chinese media giant Alibaba, the Qatar Investment Authority, and Abu Dhabi sovereign wealth fund Mubadala.  While Covid-19 continues, Xpeng sees the time being right with Tesla's stock still soaring and more competition…