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Investment management firm Primecap Management that manages assets worth over $148.84 billion, significantly raised its exposure in the Chinese electric vehicle maker Xpeng Inc (NYSE:XPEV) and also added Alibaba Holdings (NYSE:BABA) during the second quarter, regulatory filings revealed on Tuesday. What Happened: The Pasadena, California-based firm added nearly 2.32 million shares in Xpeng, which is listed in both U.S. and Hong Kong, lifting the total exposure in the upcoming electric vehicle makers in China to $295.25 million at the end of the second quarter.
...read full article on Benzinga
