Xpeng is set to introduce dedicated insurance products to boost the adoption of its smart driving features, Chinese media China Star Market reported on Saturday.
The electric vehicle (EV) maker plans to collaborate with insurers to develop tailored smart driving policies based on its extensive user data and technological advancements.
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The policies will cover core autonomous features, including NOA (Navigate on Autopilot) for urban and highway driving and automated parking, addressing liability concerns and user safety, the report said.
According to Xpeng Chairman and CEO He Xiaopeng, the company is advancing its smart driving technology and expects significant progress in the coming months. “I believe that L3 autonomous driving will drive AI cars into the ‘iPhone 4 era,’” He said in an internal letter dated Feb. 5. He also stated that Xpeng would be the first to implement L3 full-scenario autonomous driving this year.
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The introduction of smart driving insurance suggests that Xpeng may be preparing to assume some liability for accidents involving its autonomous features, a move that could strengthen consumer trust.
The approach is similar to that of the now-defunct Baidu-backed Jiyue, which in March 2023 offered insurance covering accident-related premium increases for users of its pilot-assisted driving system.
