Daiwa Securities claims that Tesla's FSD will face direct competition from Xiaopeng.

Yesterday, Xiaopeng Motors held the Xiaopeng second-generation VLA media experience day, announcing that the second-generation VLA push will officially start this month. Morgan Stanley, Bank of America, HSBC and other top global brokerages strongly recommend Xiaopeng, giving it a "buy" rating for the stunning performance of the second-generation VLA. Morgan Stanley said that "Xiaopeng's second-generation VLA is a bold leap forward" and "Tesla will face more competition from Chinese companies like Xiaopeng, capable of competing with their autonomous driving technology in the global market". Previously, JPMorgan Chase's long position in Xiaopeng Motors increased from 6.38% to 7.04%. It is reported that Xiaopeng will accelerate the milestone of achieving "comparable to Tesla FSD's latest capabilities" by 2026. Soon, the Xiaopeng second-generation VLA will start global road tests and plan to start global deliveries in 2027. This means that the benchmark players in the field of Chinese and American intelligent driving will truly compete on the global stage.