Why XPeng Stock Is Surging Today

XPeng Inc XPEV shares are trading higher Monday after the company announced the launch of its pilot program for its City Navigation Guided Pilot.

Several XPeng P5 customers can now access City Navigation Guided Pilot via an over-the-air update. When City NGP is activated, the vehicle can perform a full range of driving tasks by itself. City NGP features a multi-modality sensor fusion framework with cameras, LiDAR units, millimeter-wave radars and high-precision positioning units to offer a 360 degree fusion perception.

"We believe the continuous evolvement of City NGP and the expansion of its coverage will accelerate the transformation of the driving experiences of our customers," said He Xiaopeng, chairman and CEO of XPeng.

XPeng designs, develops, manufactures and markets smart EVs targeted toward technology-savvy middle-class consumers. 

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XPEV Price Action: XPeng has a 52-week high of $51.50 and a 52-week low of $14.50.

The stock was up 6.46% at $15.50 at time of publication. 

Photo: courtesy of XPeng.