Today the stock of XPeng Inc. (XPEV) is trending higher on the charts, up 6.36% in early trading to trade at $35.97. XPeng stock closed the session at $33.82 after soaring 7.67% yesterday. On the day, 20.62M shares of XPEV stock were traded. This volume is lower than 3-months average volume of 22.24M shares. The leading Smart EV manufacturer in China reported impressive results from its autonomous driving expedition, which has helped propel the XPEV stock up this morning.
What were the findings?
XPeng is a leading Chinese electric vehicle manufacturer and marketer offering EVs that appeal to the middle class in China. XPEV’s objective is to strengthen Smart EV which is expected to influence the mobility experience of the future dramatically with their use of technology and data. In order to offer an optimal driving experience to customers, XPeng develops its full-stack autonomous driving technology and in-car intelligent operating system in-house, as well as the electromechanical and electronic architectures of the vehicle as a whole.
XPeng today announced the results of its 3,000 km navigation-assisted autonomous driving expedition.
It was the longest autonomous driving expedition by mass-produced vehicles on China’s highways. In total, the NGP (Navigation Guided Pilot) steered the XPeng P7 fleet a distance of over 3,600km, with 2,930km of highway driving. A new milestone in long-distance autonomous driving has been set for mass-production passenger cars by the XPEV fleet. The XPEV fleet achieved a driver intervention rate of 0.71 per 100 km.
How could XPEV excel further?
The strategy and technology capabilities of XPeng (XPEV) should put it in a powerful position to succeed in attaining the goal of becoming the world’s leading provider of autonomous driving software and hardware. And with the NGP robustly tested during this expedition to ensure its functional effectiveness has put the XPEV a step forward.