{"id":23022,"date":"2023-06-15T11:37:39","date_gmt":"2023-06-15T15:37:39","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/xpeng-stock-rises-the-tesla-rival-rolled-out-self-driving-tech\/"},"modified":"2023-06-15T11:37:41","modified_gmt":"2023-06-15T15:37:41","slug":"xpeng-stock-rises-the-tesla-rival-rolled-out-self-driving-tech","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=23022","title":{"rendered":"XPeng Stock Rises. The Tesla Rival Rolled Out Self-Driving Tech."},"content":{"rendered":"
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Chinese electric-vehicle maker
\n XPeng
\n said Thursday its assisted-driving technology has been launched in Beijing and three other cities. The
\n Tesla
\n rival\u2019s stock was rising in premarket trading.<\/p>\n

\n XPeng
\n is the first company to roll out an advanced driver-assistance system (ADAS) in Beijing after it was approved for use on major ring roads and expressways in the capital city.<\/p>\n

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The company didn\u2019t immediately respond to a request for comment about the approval process. <\/p>\n

XPeng (ticker: XPEV) said its City NGP (Navigation Guided Pilot) system, which is similar to
\n Tesla\u2019s<\/span>
\n (TSLA) FSD (Full Self-Driving) feature, is also available in Shanghai, Shenzhen, and Guangzhou. The company said it plans to expand the feature into \u201cdozens of cities\u201d later this year.<\/p>\n

The system can do a lot of the tasks a human driver can. Still, drivers need to pay attention to the road. \u201cAt present, our [XPeng] NGP has the driving abilities equivalent to a novice driver,\u201d said founder and CEO \u00a0Xiaopeng He on the company\u2019s first-quarter earnings conference call in May. \u201cMoving forward, and supported by the large-scale data set generated in urban driving environment and strong back-end closed-loop data training systems, we expect to introduce quarterly [over the air software] updates for XNGP.\u201d <\/p>\n

Data, training and software updates sound a lot like how Tesla improves its driver-assistance features. <\/p>\n

XPeng management, and investors, hope that improving driver assistance features leads to sales growth. Over the past 12 months, XPeng has sold about 100,000 vehicles, down more than 20% from the prior 12-month period. Sales at peers
\n NIO
\n (NIO) and
\n Li Auto
\n (LI) have continued to grow. NIO has sold about 128,000 vehicles, up 35%. Li has delivered more than 190,000 vehicles, up about 67%. <\/p>\n

Falling sales is one reason XPeng stock has struggled. Coming into Thursday trading, U.S.-listed American depositary receipts, or ADRs, have fallen about 60% over the past 12 months. <\/p>\n

Things have been looking better lately though. The stock climbed 3% in Hong Kong trading, helped by a broader move higher on hopes for more Chinese stimulus. And XPeng shares surged earlier in the week after the company said that its new G6 SUV received 25,000 pre-sale orders<\/a> in just 72 hours.<\/p>\n

XPeng ADRs were up 1.8% in premarket trading Thursday, while
\n S&P 500
\n and
\n Nasdaq Composite
\n futures fell 0.3% and 0.6%, respectively. <\/p>\n

The Hong Kong-listed shares have gained more than 30% over the past five days, while the ADRs have climbed 28% over the same period. <\/p>\n

Write to Callum Keown at callum.keown@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n