Chinese mainland electric vehicle startup Xpeng Inc is set to raise $1.8 billion in its Hong Kong listing, as it has priced its shares at HK$165 each, said The Paper, citing an exchange filing on Wednesday.

The company, which plans to sell 85 million shares in the offering, is poised to raise HK$14 billion globally. JPMorgan Chase & Co and Bank of America Corp are joint sponsors for its Hong Kong offering, as per the report.

Established in 2014, the Guangzhou-based EV maker went public in New York in August last year through an initial public offering that raised $1.72 billion.

One of the company's American depositary shares is equivalent to two ordinary shares. Trading in Hong Kong is set to start on July 7, the report said.

Operating revenue of Xpeng was 9.7 million yuan ($1.5 million), 2.32 billion yuan, 5.84 billion yuan from 2018 to 2020, respectively, according to company prospectus. Its total revenue in Q1 2021 was 2.95 billion yuan.

Net loss of the company was 1.4 billion yuan, 3.69 billion yuan, and 2.73 billion yuan, respectively, during the past three years, with net loss of Q1 2021 at 787 million yuan.

Xpeng plans to deliver G3i, a facelift of its G3 model, at the end of Q3 this year, as it noted in its prospectus, adding that it will launch a new SUV model based on its Edward platform in 2022.

The model, with a price tag higher than Xpeng's main models, will be the fourth smart EV model of the company.