China’s XPengThe company announced that Thursday’s investment was made into a fund of $200 million to support “frontier technology” and electric cars.

Rockets Capital also includes a few high-profile investors such as Sequoia China (eGarden), Sequoia China (5Y Capital), and GGV Capital.

Rockets Capital will be focusing on investments at the “venture stage and growth stages” in Smart EV Industry Value Chain, Clean Energy, Frontier Technology Areas, and Smart EV Industry Value Chain.

XPeng didn’t expand upon what “frontier technology” would mean, however China’s government has identifiedThere are many fields that can be included under this umbrella.

This latest investment comes at a time when the growth of electric vehicles is predicted to continue. Gartner, a market research company, predicts that 6 million electric vehicles will be sold this year, compared to 4 million in 2021.

However, global financial markets are also subject to high volatility. Chinese technology stocks in particular taking a hammeringThey have however, staged a comebackThese are the results of our last 2 days.

Rockets Capital managing partner Bing Yuan said that the closure of the fund was a testimony to the fact that, in an ever-evolving investment industry, low carbon economies and technology driven development remain the most popular investment trends.”

Rockets Capital is an independent entity from XPeng. According to the electric car manufacturer, Rockets Capital will operate independently from XPeng.

XPeng did not reveal any names but said that the fund “entered into agreements to invest in companies.”