Xpeng Inc. (NYSE: XPEV) disclosed that it has entered into a partnership agreement with Livox. As per the agreement, Xpeng and Livox have joined forces to implement automotive-grade lidar technology in the new production model of Xpeng in 2021. The new 2021 production model of Xpeng 2021 will be the world’s first mass-produced smart EVs fitted with a lidar. This paradigm will strengthen the position of Xpeng in the EV technology market.
Livox will provide its services to Xpeng by changing its Horiz sensor as per the requirement of the Xpeng. By changing its sensor Livox will not only offer a cost-efficient and reliable solution for the model but also fulfilled the automotive-grade requirements of the firm.
Shares of Xpeng Inc. (NYSE: XPEV) soared 1.28% as it gained +0.54 during the trading session of Thursday. It has a day low range of $41.95 and a high range of $44.66. In the past 52-weeks of trading, this company’s share went from the low point around $17.11 to briefly over $74.49. Its shares surged 150.32% from its 52-weeks low and plummeted -42.50% from its 52-weeks high.
Looking at its profitability, it as return on investment of 81.10%. Its Gross Margin is -20.20%, and Operating Margin is 100.00%. Turing our focus on its liquidity, it has current ratio of 1.10 and a quick ratio of 0.90. This company market cap has remained high, hitting $35.39 billion at the time of writing.
The deployment of lidar in XPILOT architecture, Xpeng’s autonomous driving system, will further optimize the safety as well as the capability to cover a detailed range of driving situations of XPILOT.
Livox is endeavoring to overcome the three holdups in the Lidar industry such as reliability, scalability, and price. Its automotive-grade solution surpassed the requirement of the industry and meeting the standards such as point cloud density, FOV, and recognition range. It is endeavoring to increase the recognition range of its Horiz Senor to 150m. This ability will allow the XPILOT system of XPEV to identify any distant hurdle while on motorways and city roads.