Tesla's direct competitor, Xpeng unveiled its first aero car

Link copied

16:53 | 25 October 2021

Tesla’s direct competitor, Xpeng unveiled its first aero car

A subsidiary of HT Aero, the Chinese rival of Tesla, electric car maker Xpeng Inc. will release a flying car in 2024.

According to HT Aero, the flying vehicle will have a lightweight design and a folding rotor, which will allow the vehicle to travel on roads as well.
In addition, the vehicle will be equipped with additional safety features, including parachutes.
However, HT Aero said the final design of the vehicle may change.
HT Aero unveiled its aero car at the Xpeng Tech Day event, where the company also announced the latest version of its advanced driver assistance system called XPILOT 4.0.

In addition, Chinese electric vehicle manufacturer Xpeng unveiled an upgraded intelligent driver assistance system, XPILOT 3.5, which is slated for introduction in 2022. The upgraded semi-autonomous driving system will include the City NGP function, which will allow cars to change lanes and adjust their speed and overtake. Previously, the system was adapted exclusively for highways, but now it will work in cities as well. XPILOT 3.5 will be available to owners of the new Xpeng P5 in the first half of 2022. XPILOT 4.0’s advanced driver assistance program will be available in the first half of 2023 and will be installed on the company’s new electric SUV. XPILOT 4.0 will include features such as vehicle activation and parking assistance. According to the publication, the Chinese manufacturer of electric cars wants to compete in the field of semi-autonomous driving systems with the industry leader, the American company Tesla.

XPILOT is a counterpart to Tesla’s semi-autonomous driving system called Autopilot.
Xpeng also unveiled a new battery charger for its electric cars at the event. The company claims that just five minutes of battery charging will provide up to 200 kilometers of range.
Last week, Xpeng raised $500 million from a number of outside investors, including well-known venture capital firms, according to the publication.
Earlier in August, it became known that Xpeng would increase planned production capacity at one of its key plants in Zhaoqing from 100,000 cars a year to 200,000 as competition in the electric car manufacturer market intensifies. Xpeng has signed an agreement with the Zhaoqing municipal government in Guangdong province to move into the second phase of the XPeng Zhaoqing Smart EV production base expansion project. Xpeng is trying to increase production capacity by building its own plants.

Competition in the Chinese electric car industry is increasing from players other than Xpeng – Chinese startups Nio and Li Auto as well as U.S. carmaker Tesla. Xpeng is looking to expand production of its lineup of models with the G3 SUV, the P7 sedan and the recently released P5.

To spur the expansion, Xpeng, which is already registered in the U.S., has held a so-called dual primary listing in Hong Kong, partly as a risk hedge in the New York market.

Follow the information in a format that is convenient for you: Telegram, Facebook, YouTube.

Uncategorized

19:11 | Apr 05, 2024

Toncoin enters top 10 crypto by market capitalization, overtakes Avalanche

Toncoin, The Open Network’s native cryptocurrency token, has once again entered the list of the 10 most significant coins by […]

Uncategorized

16:21 | Mar 04, 2024

Bitcoin Tops $65K as Bullish Bets Climb to Record High

The largest cryptocurrency is now just 5% away from its 2021 high in U.S. dollar terms, having already reached records […]

Hereby "Global Venture Partners s.r.o." notifies that it carries out its activities in accordance with paragraph 1 of article 15, the law on investment companies and investment funds of 19.06.2019. Listed in the ZISIF § 15 para. 1 asset management list managed by the CNB in accordance with § 596 (1) CRR. (F) ZISIF.

IČO: 08241473. LEI: 5493003MKEWYLZ837883...
This information on the site is not an individual investment recommendation, and the financial instruments or transactions mentioned in this material may not correspond to your investment profile, financial situation, investment experience, investment goals. Determining the compliance of a financial instrument or transaction with investment objectives, investment horizon and risk tolerance is the task of the investor
Venture fund Global Venture Partners s.r.o. is not responsible for possible losses of the investor in case of investing in the financial instruments mentioned in this material and does not recommend using the specified information as the only source of information when making an investment decision.
* The Venture Fund does not provide guarantees regarding the reliability and accuracy of the information provided, none of the assumptions contained in this material can be interpreted as a guarantee of investment reliability, income stability and possible benefits associated with management methods or the choice of specific financial instruments. The value of investment products may increase and decrease, the results of investing in the past do not determine future income, the company does not guarantee the profitability of investments in investment funds. All information about the profitability (value gain) of the product managed by Global Venture Partners s.r.o. are quoted excluding commissions and taxes. Charging a commission will reduce the return on investment in investment products. Before purchasing an investment product, you should carefully read the rules of trust management for this product. Services for transactions with foreign securities are available to persons who are qualified investors in accordance with applicable law and are performed in accordance with the restrictions established by applicable law.

Show

Hide