JPM’s Brian Gu joins Chinese car startup Xpeng

US bank's Asia-Pacific chairman of investment banking Brian Gu leaves to join high-flying Chinese electric car startup Xpeng Motors. $1b of additional fund raising seen this year.

Brian Gu, JP Morgan’s chairman of Asia-Pacific investment banking, has joined Chinese electric car startup Xpeng Motors as vice chairman and president, both companies said, becoming the latest high-profile departure from the investment banking community.

Xpeng is among the first batch of Chinese companies to commercialise electric vehicles, having launched its fully-electric G3 special-purpose vehicle in January.

Tencent-backed Nio launched its first EV in December, while Baidu-backed WM Motor Plans to receive orders for its debut in April.

“I’ve seen first-hand the development of electric vehicles market in China and autonomous driving technology in the past few years,” Brian Gu, vice-chairman and president...

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