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XPeng, the electric vehicle (EV) maker, reported a $188 million loss for the final quarter of 2023, which was better than expected. Despite this, increasing competition poses challenges ahead. Alibaba sold about 33 million US-traded shares of XPeng, raising $317 million. The sale led to a decrease in XPeng's share value and a decline in XPeng's shares in Hong Kong.
XPeng Shares Fall in Hong Kong as Alibaba Continues to Trim Stake https://t.co/uBCfAkwTsJ
.@AlibabaGroup reduced its holdings of @XPengMotors' #ADS worth approximately $314 million after terminating the director appointment agreement with the company. https://t.co/rJvTln9k6P
cough cough, does $BABA need cash? ๐ค Otherwise please let me know why are they going to sell $XPEV shares booking a 70% loss Narrator: unless they know $XPEV is worth much less and closer to zero? ๐คท๐ปโโ๏ธ https://t.co/VtEwhywREV
