Xpeng-backed startup aims for flying car production by 2025. Credit: Xpeng
China’s Xpeng Motors will soon begin selling its own insurance products which will be custom designd with a top insurer to better account for damages caused by the advanced driver assistance systems (ADAS) of its vehicles, sources told local media outlet CLS on Monday. The company’s new insurance policies will cover injuries arising from the use of its ADAS functions such as autonomous parking and smart lane changing, similar to Tesla’s Navigate on Autopilot (NOA) feature for highways and urban roads, the report said. The amount of benefit an owner receives will depend on factors including the percentage of mileage the system is on for and how long it has been active. EV giants Tesla and BYD are also looking to provide customers with lower-cost EV insurance products. [TechNode reporting, CLS, in Chinese]
