Alibaba Group announced on December 15th that it has sold a portion of its stake in Xpeng Motors, reducing its shareholding from 10.2% to 7.5%. The move aligns with Alibaba‘s capital management objectives, as stated by a company representative.
The representative also expressed Alibaba‘s confidence in Xpeng as one of the leaders in China’s electric vehicle industry, and reaffirmed the strategic partnership between the two firms. Alibaba‘s management had previously stated on a November 16th earnings call that future efforts would focus on optimizing capital management to enhance shareholder value.
Xpeng Motors released its latest delivery data on December 1st. The company reported a year-on-year increase of 245% in November, delivering a total of 20,041 new cars. Xpeng‘s G6 model continued to lead the monthly sales list of Chinese brand pure electric SUVs priced above 200,000, with 8,750 units delivered.
This year, Xpeng Motors has seen positive growth for ten consecutive months. By the end of November, the company’s cumulative delivery volume for 2023 had reached 121,486 units, surpassing the total for the whole of 2022.
SEE ALSO: XPeng Motors: Volkswagen Completes Over $700 Million Investment
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