Xpeng's P5 Is The Next Killer Model In China's Booming EV Space

● Xpeng released its third model – P5 – on April 14, 2021.

● The P5 model's selling points include its 'city pilot' equipped with lidars and huge interior space.

● The management expects this model to become a major revenue driver, accounting for the most vehicle sales in the coming years.

● At the moment, the market for P5 lacks competitive smart EVs.

● Xpeng plans to reach another benchmark – a further 100k annual production capacity – and will sell cars through China's second-largest auto dealer.

On April 14, 2021, Xpeng (XPEV) rolled out its third model, the P5. The sedan features lidar and the 'third place' concept, which refers to a room separate from home ('first place') and the workplace ('second place'). A good time to look at the company through the prism of the newly launched vehicle.

Xpeng actively promotes four main features of the P5: the upgraded lidar application, NGP 3.5 (Navigation Guided Pilot), the third place – and the driving range. Here we will explain these aspects in order.

Following the course of the P5

Many in the industry called 2020 'the NEV year.' Logically, 2021 may well be the year of lidar. Almost all the EV brands except Tesla are embracing lidar technology. Xpeng claimed that the P5 model would be the first mass-produced EV equipped with lidar worldwide. At present, the device is priced high – starting from USD 500 per unit – and is mainly used in luxury cars such as Audi A8 and Benz S-Class. To make the lidar affordable, Xpeng chose to incorporate with Livox, a company incubated by the world's largest drone maker DJI. Xpeng opted to install two lidars below the front lights, enabling P5 to detect cars or motorcycles muscling into the traffic column.

What's more, the NGP will be accessible with lidar. The most exciting feature of the 3.5 version is the city pilot function. 

Xpeng is also heavily advertising 'the third place.' The P5 has a length of 4.8 m and a wheelbase of 2.8 m, creating ample space and reaching the level of mainstream B-class cars. It also has a 1.5-meter transparent ceiling and is equipped with recliners. On top of its voice-controlled operating system, these functions can boost the user experience.

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