E-commerce group Alibaba paid an undisclosed amount for a 10% stake in Xiaopeng, the China-based electric car developer also known as Xpeng, automotive news and sales platform Gasgoo reported on Wednesday. The corporate invested alongside GGV Capital, Matrix Partners China, Morningside Venture Capital, IDG Capital, Shunwei Capital, Everbright Zhongying Capital, Lightspeed Venture Partners and Kinzon Capital, according to China Money Network. Xiaopeng had previously raised $324m in a June 2017 round led by on-demand ride platform UCar.

Collective Retreats,…