Xpeng has introduced its most high-priced motor vehicle to day. Pictured right here at a store in Shanghai, China, on July 2021 are two of Xpeng’s formerly released versions, a P7 Wing Minimal Edition in inexperienced and a G3 SUV in blue.
Qilai Shen | Bloomberg | Getty Photos
BEIJING — Chinese electrical car start-up Xpeng has produced its most pricey motor vehicle to date, marking the firm’s foray into a larger cost range.
Shares of the automaker briefly fell by a lot more than 15% in Hong Kong trading Thursday.
On Wednesday evening, Xpeng introduced its latest car or truck, the G9 SUV, will be priced from 309,900 yuan ($44,270) to 469,000 yuan. Deliveries are set to start off in China in Oct, the firm said.
The price tag array tends to make Xpeng’s most current car commonly cheaper than new SUV offerings this fall from Nio and Li Vehicle. Nio’s ES7 sells for 468,000 yuan to 548,000 yuan, although Li Auto’s Li 9 lists a cost of 459,800 yuan.
The G9 is also more affordable than Tesla’s Design Y, a mid-sized SUV that commences at 316,900 yuan.
Even so, Xpeng’s previous automobiles have been priced in a a lot decreased array.
The firm’s very best-seller so much, the P7 sedan, charges concerning 239,900 yuan and 387,900 yuan relying on driving assortment. The company’s other sedan, the P5, can be acquired for as reduced as 179,900 yuan.
Xpeng’s first SUV, which is now only accessible as an upgraded design referred to as G3i, runs from 181,900 yuan to 201,900 yuan.
For comparison, inside sedans, Nio’s sell for 328,000 yuan to 536,000 yuan. Tesla’s Product 3 starts at 279,900 yuan, just after applicable subsidies.
BYD, the dominant community chief in China’s electric powered car or truck sector, sells in an even lower rate array. The firm’s preferred Han sedan operates from 214,800 yuan, right after subsidies, to 329,800 yuan.
In all, BYD’s Qin, Han and Dolphin autos designed the major five very best-advertising new strength passenger cars and trucks in China for the very first eight months of the yr, in accordance to the China Passenger Car or truck Affiliation. That checklist failed to incorporate SUVs.
Tesla’s Design 3 ranked sixth, even though Xpeng’s P7 ranked 10th, the affiliation info showed.
One of Xpeng’s promoting points has been its assisted-driving program. This week, the corporation announced it is rolling out the most recent version of the software — which handles city scenarios in addition to highways — to some customers in the southern Chinese city of Guangzhou.
In addition to assisted-driving software, the G9 functions immediate battery charging and what Xpeng calls “an immersive 5D encounter” within just the automobile for looking at motion pictures and listening to new music. The organization claimed that following it revealed that in-automobile knowledge in August, it been given a lot more than 20,000 pre-orders for the G9 in the initial 24 hours of reservations.
“We are quite self-confident this G9 will be a very well-known SUV in its class,” Brian Gu, Xpeng president and honorary vice chairman, mentioned in an job interview with CNBC’s Eunice Yoon this 7 days.
“We feel the quantity of G9 up coming year will exceed what we have reached for P7, which can make it a person of our major-offering automobiles,” he explained.