But few vehicle owners have actually taken advantage of the all-electric vehicles rebate, Fitchett said.
The P5 marks the Chinese EV startup’s third production vehicle and second electric sedan. It is “the world’s first production smart EV equipped with automotive-grade LIDAR technology,” Xpeng said in a release.
Some Wall Street analysts regard the emerging Tesla (TSLA) rival as an early leader in autonomous driving.
“Each new Xpeng model aims for a new high in technology, and the P5 is our most advanced and technically ambitious model yet,” said CEO He Xiaopeng.
Lidar technology uses pulsed laser light bouncing off objects to gauge their position, shape and distance. Lidar is expected to become a core self-driving technology, helping driverless vehicles “see” both static and moving objects on the roads, even in challenging weather and lighting conditions.