Tiger Global started to build up the position in XPeng in Q3 2020 and continued to invest until Q1 2022. Since then they sold 13.7 Million shares. The investor completely sold their stake between Q2 2022 and Q3 2022.
The loss was largely attributed to a fall in investment income from its stake in Xpeng.
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XPeng (XPEV) acquires DiDi Global''s smart vehicle unit for $744M, aiming to develop a low-price EV brand by 2024. Read here for the rationale behind this deal.