XPeng Chairman increases holdings

eTradeWire News/10701571
Wellington Asset Management
XPeng's chairman buys nearly US$30 million worth of shares just days after XPeng stated that the new G9 SUV could become the company's new best-seller.

SEOUL, South Korea - eTradeWire -- Fast growing EV company XPeng formally launched its G9 SUV on September 21st with delivery dates starting in October The company are expecting that next years sales will exceed the previous year and become one of the top-selling vehicles that XPeng have launched to date.

Recently He Xiaopeng, the billionaire chairman of XPeng bought nearly $30 million of shares in the company shorty after the launch of the G9 SUV. Showing his belief in the continuing success of XPeng in the global electric vehicle market. Buying these extra shares now makes He Xiaopeng  approximately a 20.5% owner in XPeng

The XPeng share price dropped  slightly by 0.2% on Friday in New York trading to $13.71.  The company went public in the US at $15 per share in 2020. It's stock also now trades on the Hong Kong Stock Exchange.

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XPeng said earlier this month it delivered 9,578 vehicles in August, a 33% increase year over year. For the first eight months of 2022, XPeng delivered 90,085 vehicles, almost double last year's Jan.-Aug. total.

"It seems to us that XPeng are only going from strength to strength each year with no sign of slowing down. XPeng is certainly a company that we will be keeping an eye on over the next coming months and years." said David Lewis, Head of Venture Capital at Wellington Asset Management, South Korea

About XPeng Inc

XPeng is a leading Chinese Smart EV company that designs, develops, manufactures, and markets Smart EVs that appeal to the large and growing base of technology-savvy middle-class consumers in China. Its mission is to drive Smart EV transformation with technology and data, shaping the mobility experience of the future.

In order to optimize its customers' mobility experience, XPeng develops in-house its full-stack advanced driver-assistance system technology and in-car intelligent operating system, as well as core vehicle systems including powertrain and the electrification/electronic architecture.

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Source: Wellington Asset Management, South Korea

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