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☆ China's Xpeng aims to cut costs with new vehicle manufacturing platform
▼ + stars: | 2023-04-16 | by ( ) www.reuters.com time to read: +2 min

[1/5] He Xiaopeng, the co-founder, chairman and CEO of XPeng Motors attends a news conference ahead of the Shanghai Auto Show, in Shanghai, China April 16, 2023. REUTERS/Aly SongSHANGHAI, April 16 (Reuters) - China's electric vehicle (EV) maker Xpeng (9868.HK) unveiled on Sunday a new platform it developed in-house for making vehicles, which it said will reduce the development and manufacturing costs for its company's upcoming models. He said that these cost reductions would give Xpeng an edge against its rivals in an increasingly competitive market. Xpeng will build its G6 SUV, which will debut at the Shanghai auto show starting on Tuesday, as the first model to be built on the SEPA 2.0, according to the company. Xpeng's rival Tesla (TSLA.O) uses massive casting machines, also known as gigapresses, to make large single pieces of vehicle underbodies.

☆ Xpeng aims to roll out driver assistance software to all Chinese cities by 2024
▼ + stars: | 2023-03-31 | by ( ) www.reuters.com time to read: +2 min

Further updates in the second half would enable vehicles to automatically change lanes, overtake and make left or right turns, it said. It is aiming for the software to be available and functional across China by 2024, it added. Xpeng is also changing its technology so that future XNGP updates will not rely on maps, where there are Chinese regulatory constraints, but on algorithms and sensors. Tesla sold 60,766 EVs in China in the same period, 43% more than a year ago. However, Tesla has faced complaints, investigations and lawsuits in the United States that it overstates the effectiveness and safety of electric vehicles' Autopilot and FSD.

☆ Chinese Tesla rival Xpeng launches flagship EVs in Europe in international push
▼ + stars: | 2023-02-03 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

The Chinese electric car start-up launched its P7 sedan and G9 SUV in Denmark, Norway, the Netherlands and Sweden. Xpeng , a Chinese electric vehicle startup, on Friday launched two of its flagship cars across a number of European countries, as it continues its aggressive international push. Tesla's Model 3 Long Range, which claims 602 kilometers on a single charge, costs 52,990 in the Netherlands. Nio , a Chinese rival to Xpeng, began delivering some cars to Norway at the end of 2021. Xpeng has accelerated its international push in the past year after opening physical stores in Europe last year and launching its mass-market P5 sedan.

☆ Tesla's retail sales in China surged after price cut -brokerage data
▼ + stars: | 2023-01-18 | by ( ) www.reuters.com time to read: +1 min

SHANGHAI, Jan 17 (Reuters) - Tesla's (TSLA.O) retail sales surged in China in January after it slashed prices for its top-selling models earlier in the month, data compiled by China Merchants Bank International (CMBI) showed. Average daily sales for Tesla in China during the Jan. 9 to Jan. 15 period jumped 76% from the same period in 2022. Total sales were 12,654 vehicles over that period, CMBI's data showed. After cutting prices in China and other Asian markets, Tesla followed with price cuts in the United States and Europe. Xpeng's sales fell 36% from a year earlier in the week of Jan. 9 to Jan. 15, CMBI data showed.

☆ Tesla's retail sales in China surged after price cut, brokerage data says
▼ + stars: | 2023-01-17 | by ( ) www.reuters.com time to read: +1 min

SHANGHAI, Jan 17 (Reuters) - Tesla's (TSLA.O) retail sales surged in China in January after it slashed prices for its top-selling models earlier in the month, data compiled by China Merchants Bank International (CMBI) showed. Average daily sales for Tesla in China during the Jan. 9 to Jan. 15 period jumped 76% from the same period in 2022 to 12,654 vehicles, CMBI's data showed. That compared to a 14.5% year-on-year decline in overall retail auto sales in China in the same week, although sales of electric and hybrid vehicles in the country increased 36.5%, the data showed. After cutting prices in China and other Asian markets, Tesla followed with price cuts in the United States and Europe. Xpeng's sales fell 36% from a year earlier in the week of Jan. 9 to Jan. 15, CMBI data showed.

☆ China EV maker XPeng pops 12% despite posting wider than expected loss; deliveries expected to fall
▼ + stars: | 2022-11-30 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +4 min

However, Xpeng shares jumped 12% in premarket trade in the United States as the company signaled it could see a bottom to falling deliveries. Net loss: 2.38 billion Chinese yuan versus 2.09 billion yuan expected. That was wider than the 1.59 billion net loss posted in the same period last year, but narrower than the second quarter. A number of analysts have cut their target share price for the company. Instead, XPeng will offer "incentives" to customers to buy cars in a bid to regain some lost market share, Gu said.

☆ Analysts love these EV-related stocks — and give one upside of more than 100%
▼ + stars: | 2022-11-11 | by ( Zavier Ong | ) www.cnbc.com time to read: +3 min

A quarter of the 75 component stocks are tech names, with materials and industrials stocks, as well as auto stocks, making up the rest. To identify the stocks that analysts are most bullish on, CNBC Pro screened the ETF on FactSet for stocks that are buy-rated by the majority of analysts covering them. Analysts also gave these stocks average potential upside of at least 20% over the next 12 months. This was hydrogen fuel cell maker Plug Power , which analysts gave a whopping average potential upside of 122%, according to FactSet. Several Big Tech stocks in the EV supply chain are also well-liked by analysts, including Apple , Alphabet and Microsoft .

☆ Apple has instituted a hiring freeze. Here's what to know.
▼ + stars: | 2022-11-03 | by ( Jordan Parker Erb | ) www.businessinsider.com time to read: +5 min

Netflix's lower-priced subscription tier, Basic with Ads, is now available, so you can spend less to watch your favorite shows. Hiring freezes are underway at Apple. Since the summer, the company has touted its "deliberate" decisions about investment and hiring. But three sources with close knowledge of conversations at the company told Insider it has paused almost all hiring. Musk's Twitter has a list of thousands of employees who will be laid off, representing about 50% of the company's workforce.

☆ Xpeng electric car deliveries drop in October to half of Nio's
▼ + stars: | 2022-11-02 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

Xpeng said deliveries of its newly launched G9 SUV surged in October from September, despite a drop in the brand's overall monthly deliveries. BEIJING — Chinese electric car startup Xpeng delivered about half the number of cars that rivals Nio and Li Auto did in October, according to company statements Tuesday. While the two other startups reported monthly deliveries of more than 10,000 each, Xpeng said it delivered just 5,101 cars — a third-straight month of decline. Deliveries of Xpeng's best-selling model, the P7 sedan, halved from September to October, with just over 2,100 units delivered last month. The company's newly launched G9 SUV saw deliveries surge from 184 units in September to 623 units in October.

☆ Chinese EV maker Xpeng debuts most advanced semi-autonomous driving system to rival Tesla
▼ + stars: | 2022-10-24 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

Chinese electric carmaker Xpeng on Monday revealed its most advanced semi-autonomous driving system as it looks to boost appeal for its vehicles amid rising competition. Xpeng took the wraps off XNGP, its latest advanced driver-assistance system, or ADAS. XNGP replaces Xpeng's Xpilot ADAS system. XNGP is Xpeng's most advanced ADAS to date. City NGP allows the car to semi-autonomously navigate complex urban environments with features such as lane switching.

☆ Chinese 'flying car' makes first public flight in Dubai
▼ + stars: | 2022-10-11 | by ( ) www.reuters.com time to read: +1 min

DUBAI, Oct 11 (Reuters) - A "flying car" built by Chinese electronic vehicle maker Xpeng Inc (9868.HK) made its first public flight in the United Arab Emirates, as the company works towards launching the electric aircraft on international markets. 1/5 XPeng's eVTOL flying car X2 makes its first public flying in Dubai, United Arab Emirates, October 10, 2022. REUTERS/Amr Alfiky Read MoreMonday's unmanned, 90-minute test flight in Dubai was described by its manufacturer as an "important base for the next generation of flying cars." "First we selected Dubai city because Dubai is the most innovative city in the world." Register now for FREE unlimited access to Reuters.com RegisterReporting by Abdelhadi Ramahi in Dubai Editing by Dominic Evans and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

☆ Xpeng breaks out of a lower price range with its most expensive car to date
▼ + stars: | 2022-09-22 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +2 min

Qilai Shen | Bloomberg | Getty ImagesBEIJING — Chinese electric car start-up Xpeng has released its most expensive car to date, marking the company's foray into a higher price range. On Wednesday night, Xpeng announced its newest car, the G9 SUV, will be priced from 309,900 yuan ($44,270) to 469,000 yuan. The price range makes Xpeng's latest car generally cheaper than new SUV offerings this fall from Nio and Li Auto. Nio's ES7 sells for 468,000 yuan to 548,000 yuan, while Li Auto's Li 9 lists a price of 459,800 yuan. BYD, the dominant local leader in China's electric car market, sells in an even lower price range.

Xpeng showed off its forthcoming G9 SUV at the Chengdu auto show in August 2022. BEIJING — Chinese electric car start-up Xpeng's newest model will likely sell better than its most popular car to date, according to Brian Gu, the company's president and honorary vice chairman. The company formally launched its G9 SUV on Wednesday. The P7 was Xpeng's first sedan, launched in May 2020, which quickly outsold the company's existing G3 SUV that launched in December 2018. Last year, Xpeng began deliveries of another sedan, the P5, which has notched cumulative deliveries of more than 37,000 cars as of the end of August, the data analysis showed.

☆ Chinese EV maker Xpeng launches rival to Tesla's semi-autonomous driving system
▼ + stars: | 2022-09-20 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

The Chinese start-up announced Monday that it was piloting a feature known as City NGP, which stands for navigation guided pilot. City NGP is being trialed with some users of the premium version of it P5 sedan in the southern Chinese city of Guangzhou, where the company is headquartered, it said. City NGP was first announced last year, when Xpeng released Xpilot 3.5, the latest version of its advanced driver-assistance system, or ADAS. Charles Zhang, vice president of Xpeng, told CNBC on Monday that the pilot of City NGP brings the company "one step closer to full autonomy." Xpeng said that those trialing City NGP will need to download it via an update.

REUTERS/Tyrone SiuSept 20 (Reuters) - Chip giant Nvidia Corp (NVDA.O) on Tuesday unveiled its new computing platform called DRIVE Thor that would centralize autonomous and assisted driving as well as other digital functions including in-car entertainment. General Motor's (GM.N) autonomous driving unit Cruise last week said it had developed its own chips to be deployed by 2025. It currently uses Nvidia chips. read moreThe first customer Nvidia announced for DRIVE Thor is China's Geely-owned (GEELY.UL) ZEEKR. Shapiro said its current computer system called DRIVE Orin will be used in Chinese car company XPeng's new smart SUV and Chinese autonomous driving startup QCraft.

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