Shares of Chinese EV major, XPeng (NYSE: XPEV) were up in pre-market trading at the time of writing on Thursday after the company announced that its assisted-driving technology had been launched in Beijing and three other cities in China.
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The company stated that its advanced driver-assistance system (ADAS), City NGP (Navigation Guided Pilot) system will be also available in Shanghai, Shenzhen, and Guangzhou. XPeng plans to roll out this ADAS system across “dozens of cities” later this year. The company’s ADAS system is similar to Tesla’s (TSLA) Full Self-Driving (FSD) feature. XPeng is the first company to roll out the ADAS system in Beijing.
Wall Street analysts, however, are sidelined about XPEV stock with a Hold consensus rating based on two Buys, four Holds, and two Sells.