China-based EV maker Xpeng Inc. (XPEV) plans to launch a four-legged ridable robotic for youngsters, a report by StreetInsider.com mentioned. The corporate designs, develops, produces, and sells EVs, whereas additionally providing financial institution loans, an autonomous driving software program system, auto insurance coverage, and car leasing providers.
The Robotic Unicorn, known as Little White Dragon, options energy modules, clever emotional interplay, clever navigation, and movement management capabilities. Whereas XPeng didn’t show a bodily robotic, it launched photographs and a video of the toy, which confirmed it to be as tall as a small boy.
CEO of Xpeng, He Xiaopeng mentioned, “Banking on our capabilities in autonomous driving, voice recognition and sensible manufacturing, Xpeng will transfer into the robotics subject by benefiting from the applied sciences we grasp. Our first purpose is to churn out a low-speed rideable robotic pony for transport function.”
The corporate didn’t reveal any timeframe for the manufacturing and commercialization of the robotic. In the meantime, its shares closed 5.1% greater, at $41.77 on Tuesday. (See Xpeng inventory charts on TipRanks)
Final month, Deutsche Financial institution analyst Edison Yu reiterated a Purchase score on the inventory, with a worth goal of $51 (22.1% upside potential).
Total, the inventory has a Robust Purchase consensus score, primarily based on six unanimous Buys. The common Xpeng worth goal of $56 implies 34.1% upside potential. The corporate’s shares have gained 135.6% over the previous 12 months.
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