He Xiaopeng, the CEO and co-founder of Xpeng Motors, has increased his shareholding in the company to 18.8% after purchasing 1 million Class A ordinary shares and 1.42 million American Depositary Shares (ADS) for approximately HKD 107 million (USD 13.7 million) between August 21 and August 23, 2024. Following the announcement of this purchase, Xpeng's stock rose by 5.5% in Hong Kong. The company has also recently achieved a significant milestone with the tape-out of its in-house developed chip, becoming the second company to do so after Nio. Despite being loss-making, Xpeng's gross margin is reportedly improving, and it has a significant partnership with the Volkswagen Group.