TRADING IDEAS In challenge to Tesla, Chinese electric carmaker Xpeng releases autonomous features for highway driving.

TRADING IDEAS In challenge to Tesla, Chinese electric carmaker Xpeng releases autonomous features for highway driving.

Chinese electric carmaker Xpeng Motors has announced a new autonomous driving feature designed to work on highways, as it ramps up its challenge to domestic rivals as well as Tesla.

The feature — called Navigation Guided Pilot or NGP — will allow the company’s flagship P7 sedan to automatically change lanes, speed up or slow down, or overtake cars and enter and exit highways.

It is part of the next generation of Xpeng’s XPILOT 3.0 so-called advanced driver-assistance system (ADAS) which the company expects to launch in the first quarter of this year. ADAS refers to a system with some autonomous features but where a driver is still required.

Xpeng is one of China’s electric vehicle start-ups looking to race ahead in the country’s growing market as it battles other upstarts such as Nio and Li Auto, as well as U.S. electric car giant Tesla.

Mass deliveries of Xpeng’s P7 sedan, a direct rival to Tesla’s Model 3, began last June. Xpeng delivered 27,041 vehicles in 2020 — more than double from a year ago

On technical fronts TESLA RSI stood at 83.10 and currently stock is trading above all Moving Average. So, BUY position can be taken with following target and stoploss:

TRADE SIGNAL – : TESLA – BUY: 825.27, TARGET: 904.85, STOP LOSS : 796.26

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