Cathie Wood Loads Up Another $800K In This Chinese Tesla Rival Ahead Of Its Overseas Expansion

Cathie Wood’s Ark Investment Management on Friday loaded up another 18,000 shares — worth about $823,320 — in the U.S. listed Chinese electric vehicle maker $XPeng (XPEV.US)$

Xpeng’s stock closed 4.5% higher at $44.47 a share on Wednesday. The stock is up about 3.7% fp or the year.

The Guangzhou, China-based company bolted ahead of local rivals $NIO Inc (NIO.US)$ and $Li Auto (LI.US)$ last month with deliveries.

Each of the three players delivered more than 10,000 electric vehicles — with Xpeng leading the pack at 15,613 units, Li Auto grabbing the second spot at 13,485 units and Nio dispatching 10,878 units to dealers during the month.

Ark Invest first bought shares in Xpeng on Dec. 3 and has since piled up shares in the electric vehicle company’s stock on six days, all via the $ARK Autonomous Technology & Robotics ETF (ARKQ.US)$ . ARKQ held 637,042 shares — worth $27.88 million in Xpeng, prior to Thursday’s trade.

Besides Xpeng, the Elon Musk-led Tesla is the only all-electric vehicle maker in which Ark Invest has bought large amounts. The firm counts Tesla as its largest holding and owns shares worth billions in the company via its exchange-traded funds.

The investment firm has been booking profit in Tesla since early September when shares of the company began an upward march.

Ark also sold 2,273 shares — estimated to be worth $6.68 million — in $Alphabet-C (GOOG.US)$ . The stock closed 1.89% higher at $2,938.9 a share on Wednesday.