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Xpeng Unveils Autonomous Driving Feature Akin To Tesla's: What You Need To Know

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Xpeng Unveils Autonomous Driving Feature Akin To Tesla's: What You Need To Know

Xpeng Inc (NYSE: XPEV) has unveiled a new beta autonomous driving solution, which will help its flagship P7 sedan compete with similar offerings from Tesla Inc (NASDAQ: TSLA), CNBC reported Monday.

What Happened: The new feature — called the Navigation Guided Pilot (NGP) — is a part of the company’s XPILOT 3.0 autonomous driving package, the company said in a statement

Xpeng said that the NGP function is expected to be released to customers in China in the next few weeks.

The Guangzhou, China-based automaker said on its launch the feature would be implemented in the Premium version of the P7 with the "XPILOT 3.0" system.

“[NGPs] full-scenario high-definition positioning capability solves HD-map positioning challenges for China’s highly complex road conditions, including areas with no GPS signals,” said Xpeng.

Why It Matters: NGP will allow the P7 to automatically change lanes, change speed or overtake other vehicles and enter or exit highways, according to CNBC. Xpeng's NGP provides features similar to Tesla's "Navigate on Autopilot," the publication noted.

Tesla CEO Elon Musk said last month that its own full-self driving software would get “absurdly good” in the future.

See Also: Tesla Rolls Out Full Self-Driving Beta Version, With A 'Slow' And 'Cautious' Approach

Xpeng deliveries rose 266% in the third quarter on a year-on-year basis as the company delivered 8,578 units in that period. 

Rival Nio Inc (NYSE: NIO) delivered 18.15% more vehicles on a quarter-over-quarter basis in Q3, while Li Auto Inc (NASDAQ: LI) deliveries surged 31.13% in the same period.

Price Action: Xpeng shares closed 4.95% lower at $47.82 on Friday. On the same day, Tesla shares closed almost 2.2% lower at $826.16 and fell nearly 0.3% in the after-hours session.

Related Link: Nio Day 2020: EV Maker Shows Off ET7 Sedan, New Power Swap Station, 150kWh Battery Pack, ADaaS And More

Click here to check out Benzinga’s EV Hub for the latest electric vehicles news. 

Photo courtesy: Jengtingchen via Wikimedia

 

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