Market Insight | XPENG-W opens more than 3% lower, the company denies reaching a private agreement with the European Union on electric vehicle tariffs

XPENG-W opened more than 3% lower. As of the time of publication, it fell by 3.23% to HKD 40.5, with a turnover of HKD 6.9255 million. According to Shell Finance, recently, multiple Weibo accounts have posted unified content stating that XPeng has compromised with the European Union. XPeng officials told reporters that they have never privately reached any form of tariff agreement with the EU, strictly following the unified deployment of the country and participating in cooperation with the EU in tariff negotiations. It is reported that the China Machinery and Electronics Association criticized the European Commission for separately negotiating tariffs with some electric vehicle companies, indicating that it would shake the foundation and mutual trust of the negotiations, causing interference to both sides. Currently, the time for China-EU price commitment negotiations is urgent, and negotiations will also divert resources, delaying the negotiation process