XPEV - XPeng brings assisted driving tech to Shanghai

2023-03-31 08:11:28 ET

Chinese electric vehicle start-up XPeng ( NYSE: XPEV ) announced on Friday that the XNGP navigation guided pilot software system can now be used in the G9 Max and P7i Max models in Guangzhou, Shenzhen and Shanghai, as well as many highways in China. The advanced driver assistance system enables vehicles to navigate their way automatically on city streets. Owners of G9 Max and P7i Max will be able to access the technology through free over-the-air software updates. The navigation sysstem is not fully autonomous, with driver supervision still required.

The launch of the assisted driving features by XPeng ( XPEV ) is a differentiator for the automaker with rival Tesla ( TSLA ).

"Tesla doesn’t really pump Autopilot in China and they don’t offer Full Self Driving ( FSD ) in China, whereas Xpeng really leaned into its NGP as a difference maker for the China market," noted Sino Auto Insights founder Tu Le.

Shares of XPeng ( XPEV ) fell 1.05% in premarket trading on Friday to $11.26.

Earlier in the week, Cathie Wood's ARK Invest unloaded a bulk of the firm's XPeng stock holdings.

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