Today, some pretty intriguing news is sending shares of Xpeng (NYSE:XPEV) racing higher. Investors in XPEV stock have booked paper gains of 7% at the time of writing. This comes as the company’s smart EV maker announced a pretty tremendous breakthrough. Indeed, investors in EV stocks are having a good today, though XPEV stock has outperformed most of its peers.
So, what is this breakthrough you ask?
Well, let’s dive into it.
Autonomous Driving Capabilities Fueling XPEV Stock
Today, Xpeng announced the results from its 3,000 kilometer navigation-assisted autonomous driving expedition. This 1,800 mile-plus journey was China’s longest highway autonomous drive achieved by a mass-produced vehicle. A fleet of the company’s Xpeng P7 vehicles took to the roads in the test.
The trip was officially over 3,600 kilometers, however approximately 3,000 kilometers of driving were under the control of the Navigation Guided Pilot (NGP) autonomous driving mode.
Additionally, the company reported 0.71 human driver interventions per 100 km. This set a new benchmark for mass-produced autonomous vehicles driving long distances.
Furthermore, the company reported more than 90% success rates in the following tracked metrics:
- Highway ramp entering/exiting success rate of 93%
- Lane-changing and overtaking success rate of 94%
- Tunnel pass-through success rate of 95%
According to Chairman and CEO He Xioapeng, this expedition was a real success. He said:
“The expedition has fully challenged the robustness and reliability of the NGP function. The results demonstrate that it is not only the strongest, but also the easiest to use autonomous driving function for production vehicles available in the market,”
The drive took longer than a week, and approximately 10 cities in six provinces were visited along the way. Hundreds of journalists covered the ride, with some experts joining in. Overall, investors are treating this large autonomous driving test as a massive success.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article.