Xpeng Motors jumps 10% in Hong Kong ahead of G9 model launch
Xpeng Motors jumps 10% in Hong Kong ahead of G9 model launch

Xpeng Motors jumps 10% in Hong Kong ahead of G9 model launch

 

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Shares of XPeng Motors jump nearly 10% in the morning session in Hong Kong ahead of its official launch of G9 model, though the stock is still down about 54% from its recent high on June 27 as demand concerns linger.

XPeng will officially launch its fourth production vehicle, the flagship G9, on September 21, after it unveiled the model at the Guangzhou Auto Show last November. The carmaker announce on August 10 that the model was available for consumer pre-orders and on the next day, it said that pre-orders reached 22,819 within in 24 hours.

A note from Deutsche Bank earlier this month said that the G9’s launch is expected to be a catalyst for a temporary rally in XPeng shares.

In addition, XPeng said on Sept 17 that its City Navigation Guided Pilot (City NGP) feature is available on a pilot basis in Guangzhou, where the company is headquartered, making it the first Chinese car brand to introduce advanced driver assistance system (ADAS) features for complex urban traffic situations to the mass market. City NGP is an ADAS feature similar to Tesla’s FSD, which allows the vehicle itself to perform a full range of driving tasks when it is activated and navigation destinations are set.

In a research note in June, China International Capital Corporation (CICC) said that XPeng’s update on the progress of the City NGP feature was expected to be a key catalyst for its share price. The market was not fully aware of City NGP because XPeng’s full-stack, self-developed technology advantage in low-level autonomous driving scenarios has not made the market and consumers feel the obvious technology generation difference, CICC said.