Citigroup Adds to Nio Stake and Boosts XPeng Holding in Filing
Citigroup valued its XPeng stake at $17.9 million at quarter-end, making XPeng its second-largest Chinese EV holding. In Q2, Citigroup lifted Nio by 37.7% to 680,573 ADS, while Li Auto stayed nearly flat at 2,790,866 shares. EV prices dragged overall, with XPeng down 22.6% and Li Auto down 34.1% over the quarter, while Citigroup cut Rivian and raised Lucid.