XPENG-W (09868) rose nearly 6%, with a gain of 4.59% to HK$64.95 at the time of writing. Trading volume reached HK$656 million. On March 2, it was reported that XPeng held a media experience event in Guangzhou for its second-generation VLA and announced that the model would be officially rolled out to users in March. As the company's large-scale physical world model aimed at achieving full autonomous driving, the second-generation VLA represents a technological paradigm shift, arriving at a critical juncture as the automotive industry transitions from L2 to higher-level intelligent driving. Simultaneously, the 2026 XPeng X9 all-electric version was launched at the event, forming a dual-capability product lineup and providing the first major implementation direction for the second-generation VLA. Changjiang Securities believes that XPeng's continued leadership in intelligent driving builds a core competitive advantage in the AI era, and the VLA upgrade is expected to bring significant improvements. The firm also noted that 2026 will be a major year for new vehicle launches, with multiple models anticipated to strengthen the sales cycle.
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