Chinese EV makers jump as no immediate price changes likely amid EU tariffs

Wuling Motors Holdings

07/10/2024 05:25

** HK-listed Chinese EV makers rise as European Union's (EU)
decision to press ahead with tariffs on China-made electric
vehicles (EV) is not expected to trigger immediate price changes
    ** French unit of SAIC's  600104.SS  MG Motor said on
Friday, before the vote, that EU decision would not affect
prices of its EVs in France this year, regardless of the outcome
of the vote
    ** Chinese EV giant BYD  002594.SZ  is also expected to keep
prices unchanged in Italy until end of this year, a source told
Reuters
    ** EU's plans to impose tariffs on Chinese EVs, which on
Friday won the backing of a sufficient number of member states,
leave the door open to negotiations, a senior French diplomat
said
    ** Hong Kong shares of Xpeng  9868.HK  surges 4%, BYD
 1211.HK  rises 3.5%, Leapmotor  9863.HK  climbs 3.1%, Li Auto
 2015.HK  gains 1.6% and NIO  9866.HK  adds 0.6%
    ** Stock of Geely Auto  0175.HK  jumps 5.5%, Xiaomi
 1810.HK  soars 5.3%, Great Wall Motor  2333.HK  rises 1.9% and
Wuling  0305.HK  climbs 1.5%
    ** China markets are closed on Monday for public holiday,
will resume trading on Tuesday    
    ** Hang Seng Tech Index  .HSTECH  up 2.6%, Hang Seng Index
 .HSI  1.2% higher


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