Ark Invest's Cathie Wood, after talking up investing in autonomous taxis, has sold a large number of shares in a major player in the business.
According to Ark's daily trade update on March 28, Wood has decided to sell 226,727 shares of XPeng from her ARK Autonomous Technology & Robotics ETF (ARKQ).
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"The Chinese electric vehicle company is now ARKQ’s smallest holding with only 9,319 shares left," reported CNBC.
In Ark's Big Ideas 2023 publication, Wood had said that autonomous taxis are already a reality.
The report cited Waymo (GOOGL), Cruise (GM), Baidu, Pony, Tesla (TSLA) and Xpeng as having robotaxi launch years between 2019 and 2027.
XPeng plans to develop fully unmanned driving in the next three years.
"In terms of intelligent assisted driving, this year XPeng is mainly focused on single-scenario assisted driving such as high-speed and underground parking lots," Pandaily reported on Oct. 25, 2022. "From 2023 to 2025, whole-scenario assisted driving functions will be further explored. From 2025, the firm will move towards fully unmanned driving."
XPeng has said it passed some initial field tests.
"XPeng‘s G9 model has passed closed field tests of automated driving and obtained road test licenses for intelligent and connected vehicles," according to Pandaily. "According to XPeng, this is the first time in the industry that a smart vehicle has completed the test and obtained a license only by upgrading software."
XPeng has released some data about its navigation guided pilot (NGP) for urban driving.
"At present, the weekly penetration rate of urban assisted driving of NGP for city driving is 84%, the mileage penetration rate of NGP for city driving is 63%, the traffic efficiency of NGP for city driving has reached 90% with human drivers, and the average number of passive takeovers by human drivers per 100 km is 0.6," according to Pandaily.
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