Xpeng Inc Stock Price, News & Analysis

XPeng Inc. (NYSE: XPEV) has announced a significant over-the-air (OTA) upgrade for its P7 sedan customers in China, marking the most extensive upgrade in its history. The update introduces Xmart OS 2.5.0, featuring over 40 new functions and 200+ optimized features, including advanced autonomous driving assistance and enhanced voice recognition. Key additions include the Navigation Guided Pilot (NGP) for automated navigation and improved safety features. This upgrade aims to enhance customer experience and solidify XPeng's position in the Smart EV market.

XPeng Inc. (NYSE: XPEV) has announced being the first automaker to implement Amap’s 3rd-generation in-car navigation system in its P7 Smart EV sedan. This system features a Surrounding Reality (SR) display for enhanced navigation and assisted autonomous driving. Amap, which boasts over 570 million monthly active users, provides high-precision maps covering 300,000 kilometers of roadways, facilitating advanced lane-level navigation. The Navigation Guided Pilot (NGP) function minimizes driver intervention, reporting an impressive 98.65% success rate in lane changes and overtaking during beta tests.

XPeng Inc. (NYSE: XPEV), a leading Chinese smart electric vehicle company, has launched the beta version of its NGP (Navigation Guided Pilot) highway autonomous driving solution during media road tests in Guangzhou. This anticipated feature will be available in the XPILOT 3.0 package on the XPeng P7. The NGP offers improved safety and navigational capabilities, including speed limit adjustments and lane changes. With extensive road testing, it is designed to tackle China's unique driving challenges. The full launch is set for an OTA upgrade before the Chinese New Year in February.

XPeng Inc. (NYSE: XPEV) has signed a strategic cooperation agreement with domestic banks, securing a credit line of RMB12.8 billion. The agreement, which involves five major banks, will enhance XPeng's business operations, manufacturing, and sales capabilities by optimizing cash management and cost control. This partnership underscores the company's robust growth potential, following a successful $900 million pre-IPO and $1.7 billion IPO in 2020. The company has also expanded its sales and service network significantly, with plans to launch a new Smart EV sedan in 2021, showcasing its commitment to technological advancement.

Xpeng Inc. (NYSE: XPEV), a leading Chinese smart electric vehicle (Smart EV) company, reported record vehicle deliveries for December 2020, achieving 5,700 units, a 326% increase year-over-year. The fourth quarter saw total deliveries of 12,964, marking a 303% increase from the previous year. Xpeng's total deliveries for 2020 reached 27,041, up 112% from 2019. Key contributors to this growth include enhanced brand awareness and expanded service initiatives across China.

Xpeng Inc. (NYSE: XPEV) has commenced deliveries of its G3 smart electric SUVs in Norway, with 100 units reaching customers across 28 cities. This marks a pivotal step in Xpeng's international expansion strategy, primarily targeting mature EV markets. The G3 starts at 358,000 NKr (approx. $41,000) and boasts advanced features, a certified range of 520km, and a high safety rating. CEO He Xiaopeng emphasized the significance of this launch in light of increasing global demand for sustainable transport. Xpeng aims to introduce its P7 electric sedan in Europe within the next year.

Xpeng Inc. (NYSE: XPEV) announced that its P7 super-long range sports sedan received the prestigious Car of the Year 2021 title from the Xuanyuan Awards on December 13. The P7 was evaluated among 40 competing models over four months by industry experts, recognized for its superior human-car experience, innovative software capabilities, and cutting-edge technologies. As Xpeng's second production model, it is notable for being the first L3 autonomy-ready production vehicle in China, featuring a NEDC driving range of 706 km and a 0-100 km/h acceleration time of just 4.4 seconds.

XPeng Inc. (NYSE:XPEV) has successfully closed its underwritten follow-on offering of 55,200,000 American Depositary Shares (ADSs) at $45.00 each, generating approximately $2.5 billion in gross proceeds. The offering included the full exercise of underwriters' options for an additional 7,200,000 ADSs. The funds will be utilized for research and development of Smart EV technologies, marketing, expansion of sales channels, and potential strategic investments. Notably, the Company's registration statement was declared effective by the SEC.

XPeng Inc. (NYSE: XPEV), a leading Chinese smart electric vehicle company, has priced its underwritten follow-on offering of 48,000,000 American Depositary Shares (ADSs) at $45.00 each, aiming for gross proceeds of approximately $2.2 billion. The offering may close on December 11, 2020. Funds will be utilized for research and development of Smart EVs, marketing expansion, strategic tech investments, and general corporate purposes. The joint bookrunners for the offering include major financial firms such as Credit Suisse and J.P. Morgan.