Written by Cláudio Afonso | LinkedIn | X
The world’s largest asset manager has significantly increased its stake in the electric vehicle maker XPeng holding 5.3% as of the end of the third quarter, a new SEC filing revealed on Friday.
As of September 30, BlackRock held approximately 82.8 million shares of XPeng after having closed the second quarter with slightly over 1.54 million shares. The asset manager acquired 81.26 million shares between July and September.
In the second quarter of the year, BlackRock had increased its position in the EV maker by 46.96% from 1.05 million to 1.54 million shares.
| Date | Shares held | Difference QoQ |
| Q1 2024 | 1.05 M | -7% |
| Q2 2024 | 1.54 M | +47% |
| Q3 2024 | 82.8 M | 5,277% |
In the United States, shareholders acquiring more than 5% of a publicly traded company must disclose their stake by filing a Schedule 13D or 13G with the Securities and Exchange Commission (SEC), depending on their intentions.
Schedule 13D is required for investors seeking to influence management or increase their stake substantially, while Schedule 13G is a simplified filing for passive investors without plans to exert control. In this instance, BlackRock submitted a Schedule 13G filing.
The filing shows that BlackRock has full voting power over 70.3 million shares of XPeng’s Class A stock and full dispositive power over all 82.8 million shares.
Here’s the filing submitted by BlackRock on Friday.
According to Nasdaq’s official website, Primecap Management was XPeng‘s largest institutional shareholder as of the end of the second quarter with more than 16.4 million shares followed by D. E. Shaw & Co., Inc. with about 12.5 million shares.
In August, XPeng CEO Xiaopeng He purchased 1 million H-shares at an average price of HK$27.13 each and 1.42 million American depositary shares (ADS) at an average price of $7.02 per share.
The company’s founder owns now a stake of 18.8% in XPeng.
XPeng shares have declined nearly 13% over the past month and about 23.7% year to date.
XPeng has launched two new models in the last three months, the Mona M03 and a new flagship sedan P7+.
The EV maker delivered over 10,000 units of the Mona M03 in September which played a crucial role in its new monthly record of 21,352 EVs delivered.
XPeng started pre-sales for the P7+ at the 2024 Paris Motor Show last week with the pre-sale price set at 209,800 yuan ($29,530). Customers who pay a 99 yuan deposit will receive a RMB 3,000 yuan discount, equivalent to $422.
XPeng reported receiving 30,000 pre-sale orders for the model within one hour and 48 minutes of the Paris debut.
The company plans to expand deliveries to overseas markets next year, with a goal of operating in 60 markets by the end of 2025.
Written by Cláudio Afonso | LinkedIn | X
