** Shares of Zhejiang Leapmotor Technology 98693.HK rise 6.8% to HK$62.4, on course for the biggest one-day rise since May 2

** Stock hits highest since July 28 and set to snap two straight sessions of fall; top pct gainer on Hang Seng Automobile Index .HSAMI, which is up 0.4%

** Leapmotor said it delivered 50,129 vehicles in July, up 126% y/y

** Hong Kong shares of rival Xpeng 9868.HK climb 1.9% to HK$72.65, after it delivered 36,717 smart EVs in July, a more than three-fold rise from a year earlier

** Leapmotor, Xpeng report record July sales as their cheaper EVs appeal to budget-conscious Chinese consumers after Beijing's call to end a brutal price war - SCMP reported

** Hang Seng Tech Index .HSTECH rises 1.2%, Hang Seng Index .HSI adds 0.6%

** YTD, Leapmotor shares up 91.4%, Xpeng Hong Kong stock up 55.4%

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))