BUZZ-China's Xpeng rises as co develops new architecture with Volkswagen to cut EV costs

Reuters04-18

** Hong Kong-listed shares of electric vehicle $(EV)$ maker Xpeng Inc climb 4.6% to HK$29.55, the biggest intraday pct rise since April 10

** Stock hits the highest since April 15 and on track for the second session of gains

** Xpeng stock is third-biggest pct gainer in Hang Seng Tech Index

** U.S.-listed shares of Xpeng gained 3.8% on Wednesday

** Volkswagen AG said it has developed a new architecture for intelligent and electric cars with its Chinese partner Xpeng, which the German automaker said will help it offer more affordable EVs in its biggest market

** Volkswagen plans to use the China Electrical Architecture $(CEA)$ in locally developed VW-branded EVs from 2026

** Chinese rivals also rise with SAIC Motor , Geely Auto and Hong Kong shares of Li Auto BYD , and NIO up between 0.8% and 3.8%

** Hang Seng Tech Index gains 0.9%, Hang Seng China Enterprises Index rises 1.3% and Hang Seng Index

adds 1.2%

** Hong Kong stock down 48.3% YTD, Xpeng's U.S. stock down 49.1% YTD

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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