Why Xpeng Stock Is Higher Today
Shares of Chinese electric-vehicle maker Xpeng (NYSE: XPEV) were trading higher on Tuesday, on a somewhat bullish note from Wall Street after the company unveiled its newest advanced driver-assist technology on Friday. As of 11:00 a.m. EST today, Xpeng's American depositary shares were up about 10.6% from Friday's closing price.
There are two news items pushing Xpeng's shares higher today. First, Xpeng revealed a beta version of its Navigation Guided Pilot, a hands-free highway-driving system, last Friday in Guangzhou, China. The company said that over 100 journalists had tried the system in a series of media road tests last week, to positive reviews. Xpeng said that the new system has lower driver-intervention requirements than rivals' systems, that it covers a wider range of driving scenarios, and that it will be rolled out via over-the-air updates to customers in China over the next few weeks.
Xpeng will roll out its new hands-free highway-driving system over the next few weeks. Image source: Xpeng.
Source Fool.com
