According to the Smart Finance and Economics APP, automotive stocks are weak, as of the time of publication, Xpeng Motors-W (09868) fell by 2.99%, to 40.6 Hong Kong dollars; Brilliance China (01114) fell by 1.08%, to 2.75 Hong Kong dollars; Great Wall Motor (02333) fell by 0.76%, to 13.04 Hong Kong dollars.

On the news front, according to CCTV News, the Ministry of Commerce held a press conference in the afternoon of the 17th, the Ministry of Commerce spokesperson responded to the China-EU electric car tariff negotiation process: So far, China has shown the greatest sincerity and flexibility, important progress has been made in some areas, but due to the EU's failure to actively respond to core concerns of the China-EU industry, there are still major differences in the negotiations. China has formally invited the EU technical team to come to China as soon as possible for the next phase of negotiations, and is fully prepared for this, waiting for the EU's response.

On October 4, the EU passed a tariff proposal, which will significantly increase the tariffs for Chinese electric cars exported to the EU to about 45% maximum. It is worth noting that recently, several Weibo accounts have claimed that Xpeng Motors has made concessions to the EU. Xpeng Motors Legal Department stated on Weibo that there are internet trolls maliciously attacking the company, spreading false information online, and disseminating the same text for diffusion, legal actions have been initiated. In addition, in response to the recent widespread malicious attacks on the Xpeng P7+, Xpeng executives have advised the legal department to follow up.