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2021-04-14

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Chinese Tesla rival Xpeng Motors launches sedan with new driverless features as EV race heats up

KEY POINTSXpeng Motors launched the P5 on Wednesday, a sedan with new self-driving features.The P5 i

Chinese Tesla rival Xpeng Motors launches sedan with new driverless features as EV race heats up

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In comparison, Tesla’s Model 3 in China starts at 249,900 yuan.Wu said the P5 would roll out to customers in China in the third or fourth quarter of this year. Xpeng has also expanded into Norway, its first international market. Wu said that the company will expand its footprint in northern Europe and the P5 would eventually be launched there. He gave no timelines on when this might happen.Driverless techXpeng has tried to push the advancement of its self-driving features to differentiate from its competitors.The P5 is equipped with so-called Lidar, or Light Detection and Ranging technology. Lidar systems send out lasers that bounce back and can measure distance. Those returning beams are processed by an algorithm to create a three dimensional representation of surrounding objects — a key technology for autonomous vehicles to understand their environment.Xpeng claims that Lidar can help the P5 distinguish pedestrians, cyclists and scooters as well as road works — even at night and under low-light conditions.On Wednesday, the Chinese vehicle maker also released a new version ofXPILOT, its so-called advanced driver-assistancesystem (ADAS). This refers to a system with some autonomous features but where a driver is still required.XPILOT 3.5 will have an updated version of afeature called Navigation Guided Pilot or NGP, which allows users to autonomously do tasks such as changing lanes or overtaking cars. Some of these features will work on city roads for the first time. Previously, NGP was just designed for highways.Xpeng’s XPILOT is an attempt to compete with Tesla’s own ADAS system called Autopilot as well as other rivals like Nio with its Nio Pilot.“In P7 we launched NGP … only on highways. But highway driving only occupies like 10% of peoples’ driving time. Being able to bring the technology and the capability to cities is very important to make the feature more usable and more compelling to Chinese customers,” Wu said.In the city, Wu said the situation was becoming “exponentially” more difficult, citing challenges in ensuring the car can recognize objects in its path accurately and reliably. “We believe with Lidar … it will help us achieve our goal much faster and gives us an edge against our competitors.”Competition heating upChina’s electric car market is expected to pick up this year with 1.9 million units expected to be sold, growing 51% year-on-year, according research firm Canalys.Various incentives from the government, such as subsidies, have helped China become the biggest electric car market in the world. With that, a number of start-ups have grown rapidly such as Xpeng, Nio and Li Auto.But these players are competing against traditional automakers who are boosting their electric vehicle capabilities as well as other technology firms entering into the fray.Chinese search giantBaiduteamed up with Geely to create astandalone electric car company, while smartphone giantXiaomiannounced plans tolaunch an electric car business.Last year, Xpeng delivered 27,041 vehicles, more than doubling from 2019. In comparison, Tesla’s Model 3 alone sold more than 137,000 units in 2020 in China.Wu said Xpeng has developed a lot of technology which he believes gives the company an edge.“We are definitely a step, a few steps ahead, you know as compared to most of our competitors. So we are pretty confident that we can win this race even with more newcomers into this space,” Wu told CNBC.“We believe that with this kind of focus on the Chinese market, Chinese customers, Chinese road conditions and also the different technologies we bring together to make the tech better fitted to China market, I think we do have an edge as compared to Tesla in the China market.”Xpeng rose about 2% in premarket trading.","news_type":1},"isVote":1,"tweetType":1,"viewCount":291,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":3,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}