Top 10 newest self-made Chinese billionaires on the block
Type of business: Electric vehicles
Company name: Li Auto
Dubbed Elon Musk’s Chinese rival, millennial entrepreneur Li Xiang is founder and CEO of Beijing- based electric vehicle startup Li Auto, most known for its six-seat SUV Li One, which listed on the Nasdaq last July and raised US$1.1bn. A serial entrepreneur, Xiang has been creating startups since the age of 18, first launching PCPop.com in 2000, a website that provides brand advertising for IT products, before founding online car dealer Autohome Inc. in 2005, which he subsequently floated it the NYSE with a market value of US$3bn.
With a belief that renewable energy will solve the world’s environmental issues, he set up Li Auto bringing the firm’s first and most famous model, a six-seat SUV named Li One, to market, and which had sold 10,400 units (as of June 2020).