Chinese language electrical automobile firm Xpeng shows its mass-market Mona M03 coupe inside a headquarters’ showroom in Guangzhou, China, on Aug. 26, 2024.
CNBC | Evelyn Cheng
BEIJING — Chinese language electrical automobile firm Xpeng on Tuesday introduced that its mass-market model Mona will begin promoting some fashions for lower than $17,000.
The essential model of the Mona M03 electrical coupe will probably be listed at 119,800 yuan ($16,812), with a driving vary of 515 kilometers (320 miles) and a few parking help options.
A model of the Mona M03 with the extra superior “Max” driver help options and a driving vary of 580 kilometers will promote for 155,800 yuan.
As compared, Tesla’s least expensive automobile — the Mannequin 3 — prices 231,900 yuan in China, after a worth lower in April.
Xpeng CEO He Xiaopeng didn’t specify a launch date for the usual model of the automobile in his presentation on Tuesday. The corporate advised buyers final week on an earnings name that mass deliveries would start shortly after Tuesday’s announcement.
Presales of the Mona M03 started on Aug. 8.
The Mona M03 commonplace driver-assist helps parking, together with parallel parking. The corporate says it makes use of a variety of computerized sensors, cameras and light-weight detection and ranging sensors.
The Max model of driver help consists of options reminiscent of routinely backing up a automobile to a chosen place in a dead-end road with the push of a button. Xpeng additionally plans for it to help the distant management of coming into and exiting a slim parking spot.
That Max model is ready to start deliveries after the Lunar New 12 months vacation in 2025, CEO He mentioned. The Chinese language vacation runs from late January to early February subsequent 12 months.
Xpeng’s driver-assist know-how is extensively thought of the most effective at the moment out there in China. Tesla‘s model, marketed as “full self-driving,” is not absolutely accessible in China, though it’s extensively anticipated to be launched within the coming months.
The Xpeng CEO’s presentation on Tuesday additionally commemorated the tenth anniversary of Xpeng’s founding. Chinese language smartphone firm Xiaomi’s founder Lei Jun was amongst these in attendance
CEO He mentioned the model identify Mona stands for “Made of new AI.” He emphasised that over the following decade, Xpeng would concentrate on creating synthetic intelligence for vehicles.
The corporate additionally mentioned Tuesday that it plans to disclose its second-generation humanoid robotic in October. It additionally revealed its personal chip, however didn’t specify what nanometer course of — or stage of manufacturing know-how — is utilized in its manufacturing.
Premium Chinese language electrical automobile startup Nio in late July mentioned it had completed designing a 5 nanometer automotive-grade chip, the NX9031. The corporate had teased the chip in December, and plans to make use of it in its high-end ET9 sedan, set for supply in 2025.
Collaboration with Didi
Xpeng constructed Mona utilizing tech it acquired from ride-hailing firm Didi in August 2023.
Wu Zhefeng, a Mona challenge supervisor, advised reporters Monday that the fundamental model of driver-assist know-how within the M03 comes from Didi, whereas the extra superior model was made by Xpeng.
For the reason that battery is the priciest part of an electrical automobile, he mentioned Xpeng was capable of deliver the associated fee down for Mona thanks partially to efforts to spice up power effectivity. The coupe makes use of BYD‘s widespread “blade battery,” Wu mentioned.
He mentioned the model is targeted on younger folks, two or three years after commencement.
Practically half of comparable vehicles out there in China inside this worth vary are used for ride-hailing, based on Wu. Whereas electrical automobile corporations reminiscent of BYD have labored with Didi to advertise their vehicles amongst drivers on the ride-hailing platform, he mentioned Mona would stay targeted on client drivers.
BYD, which has shortly change into an enormous in China’s electrical automobile trade, sells vehicles throughout a variety of costs and fashions, together with many hybrid-powered variations. Shoppers in China have more and more most popular hybrids to battery-only vehicles as nervousness persists over how far they’ll drive on a single cost.
Geely-owned electrical automobile firm Zeekr introduced earlier this month that it will launch its first hybrid automobile subsequent 12 months.
Different Chinese language corporations have launched vehicles this 12 months in direct competitors with Tesla.
Nio, which has targeted on premium electrical vehicles, in Could introduced a lower-priced model Onvo. Its first automobile, the L60 SUV, is ready to start deliveries in September. The L60 begins at 219,900 yuan (US$30,439) versus the Mannequin Y’s 249,900 yuan (US$34,617), based on costs shared in Could.
Chinese language smartphone firm Xiaomi, in the meantime, in March launched its first electrical automobile, the SU7 sedan for 215,900 yuan.
— CNBC’s Sonia Heng contributed to this report.
