China's EV maker Xpeng jumps on report of robotaxi services debut

Wuling Motors Holdings

25/10/2022 07:41

** Hong Kong shares of Chinese electric vehicle (EV) maker
Xpeng Inc  9868.HK  jump as much as 9.3% to HK$29.90, the
biggest daily pct rise since June 20 if gains hold
    ** Stock lost 12.8% in previous trading session
    ** Stock is the fourth biggest pct gainer in Hang Seng Tech
Index  .HSTECH 
    ** Xpeng expects to debut its robotaxi business in Guangzhou
next year and expand to other cities over the next two years,
South China Morning Post reported, citing the EV maker's
vice-president of autonomous driving Wu Xinzhou as saying 
    ** Xpeng has not responded to a Reuters request for comment
    ** Guangdong-based EV maker says on its website that its G9
SUV became China's first mass-produced commercial vehicle to
pass the government-led Autonomous Driving Closed-field Test, a
major step forward in Xpeng's robotaxi development
    ** Hong Kong stock of rivals BYD Co  1211.HK , Li Auto
 2015.HK  and NIO Inc  9866.HK  fall between 1.1% and 4.2%
    ** Geely Automobile  0175.HK  and Wuling Motors  0305.HK 
climb more than 1% 
    ** Hang Seng Tech Index  .HSTECH  rises 2.9%, Hang Seng
Composite Index  .HSCI  gains 0.3%, and Hang Seng Index  .HSI 
climbs 0.1%
    ** As of last close, the Hong Kong-listed stock had dropped
85.3% this year
 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))