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Xpeng’s assisted-driving technology can be used on P7i Max and G9 Max models in Beijing and three other cities.
Hector Retamal/AFP via Getty Images
Chinese electric-vehicle maker
XPeng
said Thursday its assisted-driving technology has been launched in Beijing and three other cities, as the
Tesla
rival’s stock continued its recent rally.
It’s 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.
XPeng
(ticker: XPEV) said its City NGP (Navigation Guided Pilot) system, which is similar to
Tesla
’s
(TSLA) FSD (Full Self-Driving) feature, is also available in Shanghai, Shenzhen and Guangzhou. The company said it plans to expand the feature into “dozens of cities” later this year.
The stock climbed 3% in Hong Kong trading, helped by a broader move higher on hopes for more Chinese stimulus. Xpeng shares surged earlier in the week after the company said that its new G6 SUV received 25,000 pre-sale orders in just 72 hours.
The Hong Kong-listed shares are up more than 30% over the past 5 days, while the American depositary receipts have climbed 28% over the same period. The ADRs are still down 58% over the past 12 months.
Write to Callum Keown at callum.keown@barrons.com
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