Alibaba to trim investment in XPeng with $391m sell-off

Alibaba to trim investment in XPeng with $391m sell-off

Guests and reporters check out the XPeng eVTOL flying car X2 in Dubai, United Arab Emirates, October 10, 2022. REUTERS/Amr Alfiky

Taobao China Holding Ltd., a subsidiary of Alibaba Group Holding Ltd., is planning to reduce its stake in the electric car startup XPeng Inc. to cash in around $391 million.