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XPeng (XPEV) Takes EV Game a Notch Higher With Model P5
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Keeping up with high competition in the electric vehicle (EV) space, XPeng Inc. (XPEV - Free Report) launched its third production model, named P5. The model will be an electric sedan equipped with driverless features. Reportedly, P5 will be priced lower than the company’s first sedan P7, which has a starting price of 229,900 yuan. The China EV maker is set to release the pricing and further details about the new model at the Shanghai Auto Show, which will be held on Apr 19.
The P5 model, boasting XPeng’s proprietary XPILOT 3.5 system and Xmart 3.0, is likely to be a game changer for the company. The XPILOT 3.5 system will enable enhanced neural networking capabilities, and advancements in digital mapping and obstacle-recognition functionalities that are expected to lead to safer navigation, reduction in accidents as well as commuter comfort. The XPILOT 3.5 architecture will have an updated version of Navigated Guided Pilot, which is also designed for city roads, in addition to highways. Meanwhile, the Xmart OS 3.0 platform will help in offering full scenario voice assistance. The P5 model aims to bring about high level of technological advancement for smart electric cars, which is increasingly essential in China’s crowded EV market.
The e-mobility battle in China is getting fiercer by the day, with domestic EV players like NIO Inc. (NIO - Free Report) and Li Auto (LI - Free Report) , foreign automakers as well as tech titans foraying into the space. A few days back, China’s leading smartphone maker Xiaomi announced that it is set to invest $10 billion in the development of EVs over the next 10 years. The company intends to establish a wholly-owned subsidiary with an initial investment of around $1.5 billion. Ride-hailing platform Didi Chuxing has also launched an EV unit and collaborated with BYD Co Ltd (BYDDY - Free Report) to develop EVs designed for its services. Telecom equipment giant, Huawei Technology also aims to launch electric cars under its brand and may roll out a couple of models this year. Search engine behemoth Baidu also announced plans to launch an electric car business in January.
Amid soaring competition, XPeng’s commitment to technology innovation and customer services by putting forth an EV experience tailored to consumers’ requirements is of utmost importance in order to maintain its footing in the e-mobility market. Xpeng currently carries a Zacks Rank #4 (Sell).
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.
Image: Bigstock
XPeng (XPEV) Takes EV Game a Notch Higher With Model P5
Keeping up with high competition in the electric vehicle (EV) space, XPeng Inc. (XPEV - Free Report) launched its third production model, named P5. The model will be an electric sedan equipped with driverless features. Reportedly, P5 will be priced lower than the company’s first sedan P7, which has a starting price of 229,900 yuan. The China EV maker is set to release the pricing and further details about the new model at the Shanghai Auto Show, which will be held on Apr 19.
The P5 model, boasting XPeng’s proprietary XPILOT 3.5 system and Xmart 3.0, is likely to be a game changer for the company. The XPILOT 3.5 system will enable enhanced neural networking capabilities, and advancements in digital mapping and obstacle-recognition functionalities that are expected to lead to safer navigation, reduction in accidents as well as commuter comfort. The XPILOT 3.5 architecture will have an updated version of Navigated Guided Pilot, which is also designed for city roads, in addition to highways. Meanwhile, the Xmart OS 3.0 platform will help in offering full scenario voice assistance. The P5 model aims to bring about high level of technological advancement for smart electric cars, which is increasingly essential in China’s crowded EV market.
The e-mobility battle in China is getting fiercer by the day, with domestic EV players like NIO Inc. (NIO - Free Report) and Li Auto (LI - Free Report) , foreign automakers as well as tech titans foraying into the space. A few days back, China’s leading smartphone maker Xiaomi announced that it is set to invest $10 billion in the development of EVs over the next 10 years. The company intends to establish a wholly-owned subsidiary with an initial investment of around $1.5 billion. Ride-hailing platform Didi Chuxing has also launched an EV unit and collaborated with BYD Co Ltd (BYDDY - Free Report) to develop EVs designed for its services. Telecom equipment giant, Huawei Technology also aims to launch electric cars under its brand and may roll out a couple of models this year. Search engine behemoth Baidu also announced plans to launch an electric car business in January.
Amid soaring competition, XPeng’s commitment to technology innovation and customer services by putting forth an EV experience tailored to consumers’ requirements is of utmost importance in order to maintain its footing in the e-mobility market. Xpeng currently carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.
Click here for the 4 trades >>