Chinese electric car start-up Xpeng gets $2 billion in credit from state-owned banks

Alibaba-backed Xpeng announced Tuesday it secured a credit line of 12.8 billion yuan from institutions including three of the “big five” state-owned banks.Alibaba-backed Xpeng announced Tuesday it secured a credit line of 12.8 billion yuan from institutions including three of the “big five” state-owned banks.