XPeng Breaks the Mold with its Most Expensive Car Yet

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Xpeng, China’s leading electric car manufacturer, has broken away from the lower price range that has defined its products since its inception and released its most expensive car yet. The new Xpeng 301 Electric SUV’s sticker price of 899,000 RMB ($135,180 USD) is nearly double the average price of most cars on Chinese roads, which currently stands at around 520,000 RMB ($80,837 USD). According to the company’s CEO, Xiaopeng Li, the release of this expensive car signals the coming revolution of electric vehicle prices across the industry.

Image Source- Automotive news europe

TAIPEI — The most costly vehicle produced to far by Chinese electric vehicle startup Xpeng marks the company’s entry into a higher pricing range.

In a quick period of time, the automaker’s stock plunged more than 15% in Thursday’s trade in Hong Kong.

The pricing range for Xpeng’s newest vehicle, the G9 SUV, will range from 309,900 yuan ($44,270) to 469,000 yuan, the company revealed on Wednesday night. According to the corporation, deliveries are scheduled to start in China in October.

The pricing range makes the most recent SUVs from Nio and Li Auto typically more expensive than Xpeng’s current vehicle. While Li Auto’s Li 9 has a list price of 459,800 yuan, Nio’s ES7 sells for 468,000 to 548,000 yuan.

Also less expensive than Tesla’s Model Y, a mid-sized SUV with a starting price of 316,900 yuan, is the G9.

The cost of Xpeng’s earlier automobiles, however, was substantially cheaper.

The P7 sedan, the company’s top seller to date, ranges in price from 239,900 to 387,900 yuan, depending on driving range. The P5, the company’s other car, is available for as little as 179,900 yuan.

The price range of Xpeng’s original SUV, which is currently only offered as the improved G3i variant, is between 181,900 and 201,900 yuan.

Comparatively, Nio sedans range in price from 328,000 to 536,000 yuan. After any available subsidies, the starting price of the Tesla Model 3 is 279,900 yuan.

Even more affordable prices are offered by BYD, the leading regional leader in China’s electric vehicle sector. After subsidies, the company’s well-known Han sedan costs between 214,800 and 329,800 yuan.

According to the China Passenger Car Association, BYD’s Qin, Han, and Dolphin vehicles are among the top five new energy passenger vehicles sold in China during the first eight months of the year. SUVs weren’t on the list.

According to the association statistics, Xpeng’s P7 was placed 10th, while Tesla’s Model 3 was ranked sixth.

The software for aided driving has been one of Xpeng’s selling factors. This Monday, the business disclosed that certain customers in Guangzhou, a city in southern China, will soon begin receiving the most recent version of the software, which now includes coverage for urban areas in addition to roads.

The G9 offers quick battery charging, “an immersive 5D experience” for watching movies and listening to music inside the car, along with assisted-driving software. According to the firm, it got more than 20,000 pre-orders for the G9 in the first day of bookings after disclosing that in-car experience in August.

In an interview with CNBC’s Eunice Yoon this week, Brian Gu, president and honorary vice chairman of Xpeng, stated, “We’re extremely optimistic that this G9 will be a highly popular SUV in its class.”

The G9 is one of our best-selling vehicles, and we anticipate that its volume will surpass that of the P7 next year, he added.

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