According to the Securities Times app, the auto stocks that had been consistently rising before today saw a significant pullback today, as of press time, Li Auto Inc-W (02015) dropped by 11.06%, closing at 107 Hong Kong dollars; Xpeng-W (09868) fell by 10.21%, closing at 46.6 Hong Kong dollars; Great Wall Motor (02333) declined by 6.49%, closing at 15.84 Hong Kong dollars.

On the news front, on October 4th local time, EU member countries officially voted to levy an additional tax of up to 35% on electric vehicles manufactured in China, on top of the existing 10% tax, with plans to take effect at the end of October. The European Commission's statement shows that the proposal to impose tariffs on pure electric vehicles imported from China received the necessary support from EU member countries during the vote.

Citic Securities pointed out that recently, due to the impact of anti-subsidy investigations, China's exports of new energy vehicles to the EU declined in the first half of the year. Looking ahead, drawing analogies from the overseas development experiences of European, American, Japanese, and Korean automakers, Chinese automakers are expected to gradually shift from "exporting complete vehicles" to "establishing overseas factories", with the new energy complete vehicles and auto parts representing China's intelligent automotive industry chain poised to become a new focal point for exploring overseas market space.