Xpeng recorded a second-quarter net loss that widened 179 percent year on year according to South China Morning Post and Wall Street Journal. Separate unverified reports from South China Morning Post state that subsidiary Dogotix raised $900 million at a $6.3 billion valuation with participation from Alibaba Group Holding and IDG Capital. The parent company posted revenue of 19.7 billion yuan while increasing research and development spending 32.1 percent.