Xpeng (NYSE:XPEV) stock is taking a beating on Wednesday following the reveal of its P5 smart electric vehicle (EV).
Xpeng says that the P5 will be a gamechanger, but it doesn’t look like investors agree if that price drop for XPEV is anything to go by. Let’s take a look at everything there is to know about the P5 below and let readers decide for themselves if Xpeng is on to something or not.
- The biggest draw of the Xpeng P5 is its ability to navigate city roads thanks to the XPILOT 3.5 autonomous driving system.
- That’s worth pointing out as the company’s previous EVs were only capable of handling navigation on highways.
- Adding to that, the P5 will be the first production vehicle to support autonomous driving in cities.
- Aiding with that are the double-prism LiDAR units equipped to each of the EVs.
- These systems are able to scan for and identify various potential hazards on the road.
- They can also keep track of other things to avoid, such as pedestrians, cyclists, and scooters.
- While the self-driving details are nothing to scoff at, there’s still more that would be nice to know about the Xpeng P5.
- That includes when it will release, how much it will cost, as well as other performance information.
- Luckily, EV enthusiasts seeking out these details won’t have to wait long.
- The company is planning to show off its newest smart EV during the Auto Shanghai 2021.
- This will give potential customers a better idea of what to expect of the EV.
- The Xpeng P5 will make its grand debut at the show on Monday.
- Until then, those interested in the EV will have to settle for additional details from the company’s recent press release.
XPEV stock was down 5.3% as of Wednesday morning and is down 23.3% since the start of the year.
Of course, Xpeng is far from the only EV company in the news lately.
Plenty of other EV plays have been making headlines with their own plans. Luckily, InvestorPlace.com covers them extensively. That includes the likes of Nio (NYSE:NIO), Fisker (NYSE:FSR), and more. Investors can get up to speed on the latest EV news at the links below.
More EV News
- Why Nio Stock Is Not Yet a Long-Term Buy
- Fisker Is an High-Risk, High-Reward EV Play
- Best Electric Vehicle Stocks in 2021
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.