With costs falling for some of the most expensive autonomous driving technology parts, self-driving cars at a reasonable price point may be here sooner than investors may realize. XPeng calls its autonomous driving technology XPILOT. The P5 will be equipped with version 3.5, which includes 32 sensors: two lidars (short for laser-based radar), 12 ultrasonic sensors, five radars, and 13 high-resolution cameras.
One analyst has an idea about what’s behind this week’s downturn. Shares of (NIO) (ticker: NIO), (XPEV) (XPEV), and (LI) (LI), fell about 5%, 10%, and 15%, respectively, this week. The S&P 500 and Dow Jones Industrial Average both rose more than 1% this past week.
XPeng Inc. ("XPeng" or the "Company", NYSE: XPEV), a leading Chinese smart electric vehicle ("Smart EV") company, today announced that it has entered into a Memorandum of Understanding ("MoU") with Zhongsheng Group ("Zhongsheng", HKEX: 0881), a leading automobile dealership group in China, to establish a long-term strategic partnership to provide both XPeng’s industry-leading Smart EV products and Zhongsheng’s high quality services to consumers, in order to further accelerate the Smart EV adoption in China.