The B-class car will debut in the first half of 2019 and can be viewed as a “strong challenger” to Tesla’s Model Y mid-sized SUV, according to Xpeng President Brian Gu.
Xpeng now has four vehicles available for purchase: the G3 sports utility vehicle, the P5 sedan, the P7 sedan, and the larger G9 SUV, which will start shipping to clients in October.
A so-called B-class vehicle and a C-class vehicle are the two vehicles that Xpeng aims to release the next year. The classes describe the vehicle’s size.
The P7 sedan, a less expensive P5 sedan, a G3 sports utility vehicle, and a larger G9 SUV that will start customer deliveries in October are the company’s four currently available cars.
Two new vehicles, one of which is expected to compete with Tesla’s Model Y, were previewed by the Chinese electric car manufacturer Xpeng.
Xpeng has been aggressive in launching vehicles as it looks to gain share in China’s fast-growing electric vehicle market and challenge leaders such as Tesla and Warren Buffett-backed BYD.
While the company has not released names or many details about the two new models slated for 2023, Xpeng President Brian Gu, provided some snippets of information.
One of the vehicles will be a so-called B-class vehicle and the other a C-class vehicle. The classes refer to the size of the vehicle. For context, the company’s P7 sedan is a B-class car while the G9 SUV is a C-class vehicle.
In order to take on market giants like Tesla and the BYD company, which is funded by Warren Buffett, and earn market share in China’s rapidly expanding electric car market, Xpeng has been aggressive in its vehicle launches.
Xpeng President Brian Gu gave some tidbits of information regarding the two new models scheduled for 2023, despite the fact that the business has not yet revealed names or much specifics.
A so-called B-class vehicle will be one of the vehicles, and a C-class vehicle will be the other. The classes describe the vehicle’s size. For context, the company’s G9 SUV and P7 sedan are both B-class automobiles.
The B-class car, according to Gu, is “really going to target [an] even larger market sector” than the P7 sedan and will be on sale in the first half of next year. He claimed that the vehicle is a “strong challenger” to Tesla’s mid-sized Model Y SUV.
According to Gu, the C-class product will debut in the second half of 2023.
Gu remarked of the C-class vehicle, “Given the premium and large format positioning, the number may be limited in terms of contribution.” However, he continued, “it’s still going to be targeting a completely new area that we did not cover before.
The new cars, according to Gu, won’t be sedans. Regarding the kind of vehicle they will be, he made no remarks.
The CEO claimed that in terms of size and price, the B-class car will be “different” from the impending G9.
Gu explained that there was little cannibalization from the positioning and lineup of our models.
The Model Y from Tesla is frequently among the best-selling electric cars in China. However, Xpeng and its competitors Nio and Li Auto are attempting to take on the American giant in the largest electric car market in the world, which is seeing more competition.
The company’s wider-than-expected loss in the second quarter of the year and disappointing delivery guidance for the third quarter, which sent its stock plunging, were disclosed following the release of information about Xpeng’s new automobiles.
Gu claimed that the company will enter a “growth cycle” with the release of the G9 and its new vehicles the following year.