Smart and Sustainable Electric Mobility
Xpeng's Hong Kong-traded shares rose more than 14 percent to HK$51.80 at press time, giving it a 30 percent gain for the week.
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Xpeng (NYSE: XPEV) officially launched the G6 yesterday, and the company's management clearly has high hopes for the new SUV.
The G6's monthly sales target is at least 10,000 units, Xpeng chairman and CEO He Xiaopeng said in an interview with local media after yesterday's G6 launch, according to a report by Auto Home.
Mr. He disagreed with the idea that Xpeng needs to turn its fortunes around with the G6, saying that a company that bets its future on one car is doing it wrong.
In the auto industry, automakers need long-term thinking and systemic competitiveness, he said.
Xpeng officially launched the G6 yesterday, offering five versions with starting prices of RMB 209,900 ($28,940), RMB 229,900, RMB 234,900, RMB 254,900 and RMB 276,900 respectively.
Of the five options, the three versions in the middle price range will be the best sellers, meaning the G6 will be in the RMB 250,000 range in terms of average sales price, according to Mr. He.
At yesterday's launch, he said the G6 is expected to be the top-selling smart electric SUV in China within two months priced at the RMB 250,000 level.
The Xpeng G6 received more than 25,000 pre-orders within 72 hours of the start of pre-sales on June 9, and more than 35,000 pre-orders as of June 28, said Yi Han, the company's vice president of marketing, repeating Mr. He's remarks at yesterday's launch event.
Forty percent of Xpeng G6 orders came from offline stores and 60 percent from online channels, Yi said.
Mr. He made it clear in yesterday's interview that Xpeng will not launch extended-range electric vehicle (EREV) models similar to Li Auto (NASDAQ: LI).
As an entrepreneur, choices need to be made and trade-offs need to be made, he said.
In a June 15 speech, Mr. He said he could foresee a large number of hybrid models in China in the next two years, especially inside family cars.
"Because everyone sees the success, they will follow. Because they are following, a large number of models will focus on the same place. It's a very interesting thing," he said in the speech.
Xpeng shares traded in Hong Kong continued to rise today, up more than 14 percent to HK$51.80 at press time, giving it a 30 percent gain for the week.
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Xpeng officially launches G6 with starting price of $29,010 to regain past glory
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The latest wait times for all three versions of the Tesla Model Y in China are a slightly longer 2-6 weeks, the second change this year since January 9.
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Tesla's (NASDAQ: TSLA) Model Y -- the best-selling SUV in China -- is seeing longer wait times, the second such change in the first half of this year.
The latest expected delivery dates for all three available versions of the Model Y in China -- the entry-level rear-wheel drive Model Y, the dual-motor all-wheel drive Model Y Long Range, and the dual-motor all-wheel drive Model Y Performance -- are all 2-6 weeks, CnEVPost's monitoring shows.
The last change in wait times for the Model Y in China was on January 9, when both the entry-level Model Y and Model Y Long Range went from 1-4 weeks to 2-5 weeks, and the Model Y Performance stayed at 1-4 weeks.
CnEVPost has been tracking wait times and price changes for Tesla models in China on a daily basis since April 2022. The latest change in Model Y wait times is the second in the first half of the year.
(Vehicle information displayed on Tesla's China website on June 30, 2023.)
Tesla has a factory in Shanghai that produces the Model 3 and Model Y. The expected delivery dates for the two versions of the Model 3 -- the entry-level rear-wheel drive version and the dual-motor all-wheel drive Model 3 Performance -- remain unchanged at 1-4 weeks.
The Model 3 and Model Y showed no change in price or core specification information today. There have been some changes to their pricing information in China in the first half of this year.
On January 6, Tesla significantly lowered the prices of the full range of Model 3 and Model Y in China. The specific adjustments at that time were as follows:
The price of the entry-level Model 3 was reduced by RMB 36,000 from RMB 265,900 ($36,660) to RMB 229,900 on January 6, and the Model 3 Performance was reduced by RMB 20,000 from RMB 349,900 to RMB 329,900.
The price of the entry-level Model Y was reduced by RMB 29,000 from RMB 288,900 to RMB 259,900 on January 6, and the Model Y Long Range was reduced by RMB 48,000 from RMB 357,900 to RMB 309,900. The Model Y Performance was reduced by RMB 38,000 to RMB 359,900 from RMB 397,900.
On February 10, Tesla increased the price of the base Model Y in China by RMB 2,000 to RMB 261,900.
On February 17, Tesla increased the price of Model Y Long Range and Model Y Performance in China both by RMB 2,000 to RMB 311,900 and RMB 361,900, respectively.
On May 2, Tesla increased the prices of the entire Model 3 and Model Y lineup by RMB 2,000 in China. Following this adjustment, the starting prices for the two versions of the Model 3 were RMB 231,900 and RMB 331,900, respectively, and the starting prices for the three versions of the Model Y were RMB 263,900, RMB 313,900 and RMB 363,900, respectively.
Prices for the Model 3 and Model Y have not changed in China since the May 2 price change.
Tesla sold 42,508 Model 3 and Model Y vehicles in China in May, and the Shanghai plant exported 35,187 vehicles, according to the China Passenger Car Association (CPCA).
Model Y retail sales in China in May were 31,054 units, up 428.58 percent year-on-year and up 16.05 percent from April.
This makes the Model Y the best-selling SUV in China in May, above the second-place BYD Yuan Plus with 26,072 units and the third-place BYD Song Plus with 22,079 units, according to a ranking by the CPCA.
From January to May, Model Y retail sales in China were 152,461 units, up 87.03 percent year-on-year, making it the best-selling SUV in China during that period.
Yesterday, local media outlet 36kr reported that Tesla's revamped China-made Model 3 will have an upgraded battery pack, with the base rear-wheel drive version using CATL's new M3P lithium iron phosphate battery, which will be upgraded from 60 kWh to 66 kWh in capacity.
The 66-kWh battery pack will not only be used in the improved Model 3, but also in the future upgraded Model Y, the report said, citing sources.
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XPeng G6 is available in single-motor and dual-motor versions, offering three CLTC cruising ranges of 580 km, 700 km, and 755 km.
The post XPeng G6 electric coupe SUV launched with 800V fast-charging, price starts at 28,900 USD appeared first on CarNewsChina.com.
