China's Xpeng falls after price of EV model P7i cut, rivals slip

Wuling Motors Holdings

08/12/2023 07:31

** Hong Kong shares of Chinese electric vehicle (EV) maker
Xpeng Inc  9868.HK  fall 6.6% to HK$59.90, their lowest since
Nov. 13; set for second session of decline
    ** Stock on course for the biggest one-day pct rise since
Nov. 8; biggest pct loser in Hang Seng Tech Index  .HSTECH  and
Hang Seng China Enterprises Index  .HSCE  
    ** Xpeng cuts prices for its EV model P7i during promotion
period from Dec. 8-17  
    ** Shares of rivals BYD Co  1211.HK , Leapmotor  9863.HK ,
Li Auto  2015.HK , Geely Auto  0175.HK , NIO  9866.HK  and
Wuling Motors  0305.HK  fall between 1.3% and 5.6% 
    ** Hang Seng Tech Index  .HSTECH  falls 0.6%, Hang Seng
China Enterprises Index  .HSCE  eases 0.5% and Hang Seng Index
 .HSI  slips 0.2%
    ** Xpeng Hong Kong-listed stock up 56.8% YTD 

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))