Written by Cláudio Afonso | LinkedIn | X
China’s electric vehicle maker XPeng held Wednesday its 2024 AI Day in Guangzhou, unveiling its humanoid robot Iron, the extended-range system Kunpeng, among other AI-related technologies.
The company launched its new Kunpeng Super Electric System, a platform built on an 800V high-voltage silicon carbide foundation which will equip the brand’s upcoming extended range models.
The platform’s pure electric range reaches 430 kilometers while the combined range exceeds 1,400 kilometers, according to the carmaker.
After teasing its humanoid robot last August, XPeng unveiled it on Wednesday, announcing it features “more than 60 joints and 200 degrees of freedom,” with technology shared from its vehicles.
The Guangzhou-based revealed it has been working on the humanoid robot over the last five years.
“The robots have already been integrated into XPeng’s daily operations and focus on internal applications, such as factories and stores,” the company said.
In a new research note, Morgan Stanley analyst Tim Hsiao raised the price target on the EV stock to $17.00 from $11.70 while reaffirming the Overweight rating.
“We look for XPeng to start showcasing a variety of its technology reserve from AI Day this year and to continue expanding its capacity in both vehicles and non-vehicle product lines, which will likely continuously enhance its economic moat in a tight smart EV race,” Hsiao wrote.
The company is planning the launch of a robotaxi model in 2026. On Wednesday, XPeng said that the model will be equipped with Turing chips and the Canghai Platform “to deliver 3,000T of processing power with L4-level safety and hardware redundancy.”
Morgan Stanley analyst sees XPeng as “ready to embark on a strong model cycle starting with the successful M03 launch.” The model was launched in August and represent about half of the vehicles delivered in September and October.
“Further sales boost from new models, accelerating overseas expansion, and incremental contribution from VW will lay a solid foundation for XPeng’s operational resurgence from 2H24 onwards, in our view,” Hsiao noted.
XPeng’s deliveries in October reached 23,917 units, a new record for the Guangzhou-headquartered brand and a 20% growth from a year ago.
The EV maker, which is working on its first hybrid model, has been expanding to the Middle East and North Africa (MENA) region and is currently operating in the UAE, Israel, Egypt, Jordan, and Lebanon.
The company plans to expand deliveries to overseas markets next year, with a goal of operating in 60 markets by the end of 2025.
Written by Cláudio Afonso | LinkedIn | X
