Xpeng, a Chinese electric car company, declared this week that its plan is to introduce driver-assist technology in Europe by the end of 2021. It also affirmed that its timetable for extending the technology to 50 cities in China by the close of 2020 is still on course. Co-president Brian Gu reported that the firm is witnessing "an inflection point" in China for consumer uptake of driver-assist features.
This week, Xpeng announced its intention to introduce driver-assist technology in Europe by the end of 2021 and confirmed its plan to bring the tech to 50 cities in China by the end of this year. As it stands, Tesla's Full Self-Driving Beta has not been released in China, and the level of driver-assist features available in Europe is not yet known. In order to deploy the tech, Xpeng is required to gain regulatory approval. Brian Gu, Xpeng's honorary vice chairman of the board of directors and co-president, revealed during a press conference on Wednesday that Xpeng needs to take the time to perfect its software and localize it for Europe, but declined to provide details on the planned timeline. Gu mentioned that the startup is working with European authorities on their investigation of Chinese electric vehicle subsidies, and is taking a very careful approach to ensure their compliance with the GDPR data protection regulations. The company reported in June that it was rolling out its XNGP driver-assist tech for drivers on major expressways in Beijing.Earlier, Xpeng had released the same urban scenario driver-assist tech for users in Shanghai, Shenzhen, and Guangzhou.
In June, Xpeng announced that it would start rolling out its XNGP driver-assist technology on major expressways in Beijing. This tech had previously been released in March for users in Shanghai, Shenzhen, and Guangzhou. The system, which is available to users of certain car models for a fee, aims to make driving smoother with software that assists in braking at traffic lights, and turning at intersections and other tasks on city streets. According to Gu, over 90% of users in Beijing have chosen to activate this feature. He sees this as proof of a "tipping point" in China for consumer adoption of driver-assist technologies. Xpeng's G9 SUV, released in September with the driver-assist feature, starts at 263,900 yuan ($36,060), and costs 289,900 yuan ($39,613) including XNGP driver assist. This is the same price as Tesla's Model Y in China.
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Other Chinese electric car models from Huawei and Nio have been using their driver-assist capabilities as a major selling point. Xpeng posted a notable growth in deliveries from 13,690 units in August to 15,310 vehicles in September, though it lags behind its Chinese rivals. Data from China Passenger Car Association revealed that Tesla's Model 3 and Model Y vehicles manufactured in China saw a 12% decrease from August to September. Elon Musk's electric car company recently reported a 22% drop in its Q3 gross profit compared to the previous year — its first earnings and revenue miss since 2019. - This report was made with contributions from CNBC's Lora Kolodny and Jake Piazza.
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