Investor Alert

April 12, 2021, 9:25 a.m. EDT

XPeng stock rises after EV maker says it will debut lidar-equipped smart car this week

Shares of XPeng Inc. (NYS:XPEV) rose 1.2% in premarket trading Monday, after the China-based electric vehicle maker said it plans to debut its lidar-equipped XPeng P5 smart sedan on April 14 . The company said the P5 will be the first mass-produced smart EV with automotive-grade lidar technology (light detection and ranging), which is a system that helps provide vision for self-driving cars. The stock has lost 19.5% year to date through Friday, while fellow China-based EV maker Nio Inc. (NYS:NIO) shares have dropped 21.8% and the S&P 500 (S&P:SPX) has gained 9.9%.

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