XPeng Inc. (NYSE:XPEV) shares are trading higher after the company's Chairman & CEO said the company will launch a 'highly competitive' Robotaxi in 2026.

Xiaopeng He, Chairman & CEO Of XPENG Motors, posts on Linkedin, "... XPENG's Robotaxi will follow a set pace and launch a highly competitive Robotaxi in 2026. Moreover, we will not get involved in operations, but will work with our beloved partners to drive this revolution..."

Compared to EV giant Tesla, Inc. (NASDAQ:TSLA), CEO He notes that Tesla focuses on managing everything from the vehicle to operations, unlike XPeng's approach.

Also Read: XPeng CEO Says Tesla's FSD Works Well In Silicon Valley: '2025 Will Be The ChatGPT Moment Of Fully Self-Driving!'

Last month, the XPeng CEO tested Tesla's full self-driving software, which is slated for introduction in China later this year.

He also asked his followers what aspects they are most interested in comparing between Tesla's full self-driving software and XPeng's XNGP (XPeng Navigation Guided Pilot), CnEV Post reported.

Meanwhile, XPeng reportedly plans to introduce a new model, known internally as F57, in the fourth quarter.

This model will eliminate the use of LiDAR technology. The new model will not incorporate LiDAR technology, the report read, citing a source familiar with the matter. Instead, its smart driving system will transition to a pure vision solution similar to Tesla.

Price Action: XPEV shares are trading higher by 4.02% to $8.53 at last check Friday.

Photo by Koshiro K on Shutterstock

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