Shares of China-base electric vehicle (EV) firm XPeng (NYSE:XPEV) stock are taking off on Tuesday to kick off the shortened trading week.
The moves comes after CNBC reported that XPeng added a new autonomous driving feature to its P7 sedan vehicles. The program — deemed the Navigation Guided Pilot (NGP) — is designed specifically for highways, and will allow the car “to automatically change lanes, speed up or slow down, or overtake cars and enter and exit highways.” Additionally, this feature will only be available to customers in China.
Moreover, according to the report, this feature is part of XPeng’s XPILOT 3.0, the company’s advanced driver-assistance system. That said, the firm expects to fully launch the system in the first quarter of this year.
This update from XPeng clearly shows how the EV race continues to heat up. How? Well, this new feature is a challenge to the EV mogul Tesla (NASDAQ:TSLA) and its Autopilot feature. That said, XPeng stock is one to keep an eye on moving forward.
XPEV stock was up 11.2% as of Tuesday morning.
More on EV Stocks
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On the date of publication, Nick Clarkson did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Nick is a web editor at InvestorPlace.
