In a bold show of confidence, Xpeng CEO He Xiaopeng has dramatically increased his stake in the electric vehicle (EV) manufacturer, buying 3.1 million Class A shares on August 20-21 at an average price of HK$80.49 each.

This latest investment comes just under a year after he acquired 1 million shares at the end of August 2022, highlighting his long-term commitment to Xpeng’s future amidst a fluctuating market.

Official reports confirm that Mr. He executed this sizeable purchase through Galaxy Dynasty, a wholly-owned entity, further demonstrating his faith in Xpeng’s growth potential. Following his recent transactions, Galaxy Dynasty now holds 3.1 million Class A shares and 1,419,922 American Depositary Shares (ADSs) in Xpeng.

Additionally, He Xiaopeng holds an impressive 327,708,257 Class B shares and 2,200,000 ADS through Simplicity Holding, along with another 21 million Class B shares through Respect Holding, not to mention his personal holding of 1 million Class A shares.

Together, these holdings give him control over 18.9% of Xpeng’s total issued share capital, marking a significant stake in the company as they aim for growth in the competitive EV landscape.

Despite a rocky past—Xpeng’s share prices dipped by 44% in the early months of last year—the company has rebounded strong, with a staggering 80% rise in share price this year, driven by improved delivery volumes.

As Xpeng continues its ascent, Mr. He’s strategic moves signal not just optimism but a robust belief in the company’s potential, inviting many to watch how this plays out in the ongoing EV revolution.