The Zhitong Finance App learned that auto stocks were generally higher. As of press release, Xiaopeng-W (09868) rose 4.25% to HK$29.45; NIO - SW (09866) rose 3.32% to HK$31.1; and Geely (00175) rose 2.47% to HK$9.13.

According to the news, according to data from the Passenger Federation, the NEV market retailed 260,000 vehicles from April 1 to 14, up 32% year on year, up 2% from the same period last month. Since this year, 2,032 million vehicles have been sold, an increase of 34% over the previous year. Furthermore, according to incomplete statistics, in April alone, Guangdong, Henan, Hunan, Shandong, Jiangsu, and Hainan vigorously promoted car trade-in. According to Everbright Securities, with the introduction of the central subsidy policy, combined with the replacement/trade-in subsidies already announced by some regions and car companies, 2024 is expected to be a year of strong automobile consumption subsidies in recent years. It is optimistic about the prospects for recovering market demand driven by 2024E due to increased demand for swaps.

Additionally, Xiaopeng Motor announced that it has signed a strategic cooperation framework agreement with Volkswagen Group on electronic and electrical architecture technology. The two sides will jointly develop an electronic and electrical architecture based on Xiaopeng Motor's latest generation electronic and electrical architecture, and it is expected that it will be applied to Volkswagen brand electric models manufactured in China from 2026.