Simon has over six years of professional trading experience across FX, commodities and equities. He has a strong passion for financial markets and is particularly focused on price action trading
Xpeng Inc – ADR (NYSE: XPEV) shares barely moved during premarket trading despite launching its new P5 sedan, the first-ever consumer-targeted car with inbuilt lidar capabilities.
The electric vehicle company started sales of the model today, with deliveries scheduled to start in October. The sedan’s starting price is 157,900 yuan (approximately $24,500), including government incentives to boost EV sales.
The P5 comes equipped with two lidar sensors, one in the front and one in the back, with the company claiming that the sensors can distinguish between pedestrians, cyclists, scooters, and static obstacles such as road works.
The sensors can also identify road tunnels and are active during night driving and poor weather. Today’s announcement marks an important milestone for Xpeng, which has so far launched three electric vehicle models in its home market of China.
However, not all companies are looking forward to using lidar sensors in their cars. With the leading EV manufacturer globally, Tesla dismissed the technology, saying it’s a waste of time and money.
Tesla will use the more established radar technology, which uses radio waves, compared to lidar, which uses laser light, for its autonomous driving capabilities in its cars. Only time will tell which technology is superior and more practical for autonomous driving in cars.
Meanwhile, investors interested in buying Xpeng shares may find its current prices pretty attractive given that the firm’s shares are currently in a wide consolidative pattern.
From a fundamental perspective, Xpeng is well-positioned to ride on the fast-rising adoption of electric vehicles in China and globally as governments offer incentives to consumers in efforts to combat global warming.
*This is not investment advice.
XPeng share price.
Xpeng shares were trading unchanged today despite launching the P5 sedan. The first-ever production car with lidar technology.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage . 75 % of retail investor accounts lose money when trading CFDs with this provider . You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money .