XPEV Stock Alert: 3 Things to Watch Ahead of the Xpeng Technology Day

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  • XPeng (XPEV) will host its 2022 Tech Day on Oct. 24.
  • The company plans on sharing updates related to autonomous driving (AD) and its “mobility ecosystem.”
  • Shares of XPEV stock are down more than 80% year-to-date (YTD).
Silver door of Xpeng (XPEV) EV with company logo
Source: shutterstock.com/helloabc

XPeng (NYSE:XPEV) stock is in focus today as the company gets ready for its 2022 Tech Day, which will begin on Oct. 24 at 8:00 a.m. Eastern. Anyone interested can watch the event through XPeng’s Chinese website. A replay will be available the following day through XPeng’s English language website.

The Chinese electric vehicle (EV) company is also in the process of restructuring its organizational system. More details concerning the matter are expected to be released in the coming week. Specifically, XPeng is moving away from a centralized structure and shifting to a “business unit-based management structure.” CEO He Xiaopeng believes this restructuring will reduce communication costs and improve customer service.

Meanwhile, XPeng’s deliveries have been steadily falling since June. In September, the company delivered 8,468 vehicles, bringing total year-to-date (YTD) deliveries to 98,553, up 75% year-over-year (YOY). During the month, 4,634 deliveries were attributed to the P7, 2,417 deliveries to the P5, 1,233 deliveries to the G3i and 184 deliveries to the G9. The company’s G9 model first released on Sept. 21.

XPEV Stock: 3 Things to Watch Ahead of the XPeng Technology Day

At Tech Day, XPeng will share updates on its autonomous driving (AD) technology and “mobility ecosystem.” The company’s mobility ecosystem consists of its EVs, flying vehicles and robotics program.

The newly released G9 is equipped with XPeng’s second-generation assisted driving system. However, the release of the G9 led to the organizational restructure due to faulty product stock keeping unit (SKU) numbers and marketing and user need failures.

XPeng recently unveiled its flying car, called the X2, at a public event in Dubai as well. The X2 has two seats and is an electric vertical take off and landing (eVTOL) vehicle powered by eight propellers. In addition, the car has a top speed of around 80 miles per hour (mph) and carries artificial intelligence (AI) automation tech. According to Bloomberg, the X2 is the fifth-generation flying car from Aeroht, a subsidiary of XPeng. Details on an upcoming sixth-generation flying car will be announced at Tech Day 2022. That model will also be able to fly and drive on roads.

Lastly, in July, subsidiary XPeng Robotics received more than $100 million in funding through a Series A round. During last year’s Tech Day, the company showed off a quadruped robot made to look like a pony. The robot carried a “360-degree peripheral camera” and a lidar (light detection and ranging) sensing system.

On the date of publication, Eddie Pan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.


Article printed from InvestorPlace Media, https://investorplace.com/2022/10/xpev-stock-alert-3-things-to-watch-ahead-of-the-xpeng-technology-day/.

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