Category: XPeng

Xpeng works to boost capacity as G6 wait time exceeds 10 weeks

As of July 5, 's US-traded ADR was up about 75 percent cumulatively since June 9, when the G6 began pre-sales.

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Xpeng's (NYSE: XPEV) new SUV, the G6, has received good initial acceptance and now the company has an important task: ramping up production capacity as soon as possible.

Customers have been very enthusiastic about the G6, and those who order it now will have to wait about 10 weeks, Brain Gu, Xpeng's vice chairman and president, told English-language media reporters, including CnEVPost, at an online conference Wednesday night.

Xpeng wants shorter and shorter delivery cycles for the G6, but right now the model still needs capacity ramp-up, Gu said.

He mentioned that the G6 has received a significant number of orders, which would help Xpeng see monthly deliveries reach 15,000 units in the third quarter and 20,000 units in the fourth quarter.

Xpeng officially launched the G6 in China on June 29 with a starting price of RMB 209,900 ($28,980), significantly lower than the starting price of RMB 263,900 for the (NASDAQ: TSLA) Model Y, its main competitor, in China.

The company began pre-sales for the G6 on June 9 and later announced that the model had received more than 25,000 orders within 72 hours.

At the launch event on June 29, Xpeng chairman and CEO He Xiaopeng said the G6 had more than 35,000 pre-sales orders as of June 28 since the pre-sale.

The G6 is expected to become the top-selling smart electric SUV priced at the RMB 250,000 level in China within two months, he said at the time.

In an interview with local media following the G6 launch, Mr. He said the G6's monthly sales target is at least 10,000 units.

CnEVPost's latest look at the Xpeng app shows that the G6's lower-priced Pro versions all currently have an estimated wait time of 10 weeks, while the Max versions all have 12 weeks.

As the electric vehicle industry in China becomes more competitive, quick deliveries are important to capitalize on the initial hype of new models.

Xpeng's local peer (NASDAQ: LI) has proven this to be true, with its three models -- the Li L7, Li L8 and Li L9 -- all currently having 2-4 week wait times.

(NYSE: NIO) also learned its lesson when it launched several new models this year, with deliveries of the new ES6 starting the night it was launched on May 24 and the ET5 Touring on June 16, the day after its launch.

Although the G6 is seen as critical to Xpeng, the company's management believes a car company cannot bet its future on just one model.

In the auto industry, carmakers need to think long-term and be systematically competitive, Mr. He said earlier this month.

Investors are clearly bullish on the G6's potential, with Xpeng's US-traded ADRs up about 75 percent cumulatively as of July 5 since the G6 began pre-sales on June 9.

($1 = RMB 7.2433)

Xpeng delivers 8,620 vehicles in Jun, Q2 deliveries exceed guidance range

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China NEV insurance registrations for week ending Jul 2: BYD 54,000, Nio ES6 1,900

The Model Y was the best-selling new energy SUV and the Model 3 was the best-selling new energy sedan in China last week.

(NASDAQ: LI) yesterday shared the insurance registrations of some of the car companies last week to showcase its leadership among the new car-making brands.

Local auto media outlet Dongchedi then shared the rankings they produced, providing more details.

It should be noted that the two shared slightly different data on a few of the car companies' numbers, although the differences were minor, which may have to do with their rounding practices.

In the week between June 26 and July 2, (OTCMKTS: BYDDY) had the highest number of new energy vehicle (NEV) insurance registrations in China at 54,000, according to what Dongchedi shared.

Tesla was in second place at 17,300 units. Tesla was 17,400 units in the data shared by Li Auto yesterday.

was in third place with 11,600 units last week, and Li Auto was fourth with 6,500 units.

Volkswagen's NEV sales were 3,900 units last week, ranking 8th, according to Dongchedi.

When considering only Chinese brands, BYD, GAC Aion and Li Auto were the top three, with (NYSE: NIO) in sixth place.

The Tesla Model Y was the best-selling new energy SUV in China last week with 10,800 units sold. BYD Yuan Plus and BYD Song Plus DM-i were second and third, respectively, with 6,200 and 5,700 units sold.

Li Auto's Li L7 sold 2,800 units last week, ranking 7th.

Nio's ES6 was No. 10 at 1,900 units. The new ES6 was officially launched on May 24 and still seems to be in the capacity ramp-up phase.

The Tesla Model 3 sold 6,400 units last week and was the best-selling new energy sedan in China, according to data shared by Dongchedi.

BYD Dolphin came in second with 6,100 units and GAC Aion S was third with 6,000 units.

China NEV insurance registrations for week ending Jul 2: Tesla 17,400, Li Auto 6,500, Nio 4,100

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Li Auto raises H2 sales forecast to about 240,000 units, report says

has given its supply chain a full-year sales forecast of 240,000 units, according to local media.

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(NASDAQ: LI) has updated its second-half sales forecast after seeing strong growth in the first half of the year, a new report said.

Li Auto has told its supply chain that it is raising its second-half sales forecast to about 240,300 units, local media outlet 36kr reported today.

The extended-range electric vehicle (EREV) maker expects average monthly sales of more than 35,000 units in the third quarter and more than 42,000 units in the fourth quarter, according to the report.

Li Auto is on track to see sales of more than 380,000 units for the full year, far exceeding the 300,000 sales target set at the beginning of the year, considering it delivered 139,000 units in the first half of the year, according to the report.

Li Auto's three SUVs currently on sale -- the Li L7, Li L8 and Li L9 -- are all EREVs, which are essentially plug-in hybrids aimed at a larger market than pure electric vehicles.

In June, Li Auto delivered 32,575 vehicles, bringing first-half deliveries to 139,117 units, up 130.31 percent year-on-year, according to data released earlier this month.

Last week -- June 26 to July 2 -- Li Auto sold 6,500 units, down 13.33 percent from 7,500 units the week before, according to data shared by the company yesterday.

The drop in sales last week was due to its factory being closed for two days during the week of the Dragon Boat Festival, one more day than normal, resulting in 6,388 units produced that week, Li Auto founder, chairman and CEO Li Xiang said on Weibo yesterday.

This year's Dragon Boat Festival holiday was from June 22 to June 24.

Li Auto's current vehicles are produced at its factory in Changzhou, Jiangsu province, which Li previously mentioned has six days of production per week as well as one day of overhaul.

A total of 7,500 vehicles per week is the limit of Li Auto's current production, and the reduced production from the holiday was reflected in last week's deliveries, he said.

Starting in the second week of July, Li Auto will increase its weekly production capacity from 7,500 to 8,000 units, and the change in deliveries from this will come in the third and fourth weeks of July, he said.

Late last month, a 36kr report said Li Auto had raised its full-year sales target to 400,000 units from the original 300,000, but this was later denied by Li.

Li Auto finished the first half of the year with more than 130,000 units sold and does not have any ability to make it to 400,000 units for the full year, he said at the time.

Li Auto's battery-electric vehicle (BEVs)-focused local peers Nio (NYSE: NIO) and (NYSE: XPEV) have both largely completed product switches recently and are expected to see higher sales in the second half of the year.

Nio has given its supply chain a full-year sales forecast of 240,000 units, the 36kr report said today.

Nio management has previously said the company was aiming to double its sales this year compared to last year. It sold 122,486 vehicles last year and sold 54,561 vehicles in the first half of this year.

Nio will need to sell an average of at least 31,000 vehicles per month in the second half of the year if it is to achieve full-year sales of 240,000 vehicles.

Xpeng has previously mentioned that the goal is to see cumulative deliveries of more than 450,000 vehicles by the end of this year, implying a sales target of about 200,000 vehicles this year.

The company has seen weak sales over the past year, though deliveries have been improving month by month so far this year, with 8,620 vehicles delivered in June.

Xpeng delivered 41,435 vehicles in the first half of the year, and to see full deliveries reach 200,000 would mean it would need to deliver an average of more than 26,000 vehicles per month in the second half.

Xpeng officially launched its new SUV, the G6, on June 29, and its chairman and CEO, He Xiaopeng, said the monthly sales target for the model is at least 10,000 units.

Li Auto delivers record 32,575 vehicles in Jun, aims for 40,000 monthly deliveries in Q4

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China NEV insurance registrations for week ending Jul 2: Tesla 17,400, Li Auto 6,500, Nio 4,100

's sales of 4,100 units last week are second only to in the table.

Li Auto (NASDAQ: LI) shares last week's sales of major new car makers in China, showing how it and its major peers fared.

For the week of June 26 to July 2, Li Auto sold 6,500 units, continuing to top the sales chart for China's new car-making brands, the company said today on Weibo.

Li Auto did not explain on what basis the weekly sales were measured, but apparently they were insurance registrations. The company had suspended sharing those numbers in May, but has since resumed sharing them.

In June, Li Auto exceeded 30,000 monthly deliveries for the first time, making it the fifth luxury brand to exceed 30,000 monthly deliveries after Mercedes-Benz, BMW, Audi and , and the only Chinese luxury brand among them, it said.

In July, Li Auto will challenge higher sales targets to become the luxury car brand of choice for more families, the company said.

Li Auto released data on July 1 showing it delivered a record 32,575 vehicles in June, the first time it has surpassed the 30,000 mark.

In the second quarter, Li Auto delivered 86,533 vehicles, up 201.65 percent year-on-year and up 64.56 percent from the first quarter, exceeding the upper end of its previously provided guidance range of 76,000 to 81,000 vehicles.

In the first half of the year, Li Auto delivered 139,117 vehicles, up 130.31 percent year-on-year, surpassing last year's full-year deliveries of 133,246.

Nio (NYSE: NIO) sold 4,100 units last week, second only to Li Auto among China's new car-making brands.

Nio delivered 10,707 vehicles in June, up 73.96 percent from 6,155 in May, although down 17.39 percent from 12,961 in the same month last year.

The deliveries included 6,383 SUVs, and 4,324 sedans, Nio said on July 1, without disclosing figures for specific models.

In the second quarter, Nio delivered 23,520 vehicles, down 6.14 percent from a year ago and down 24.23 percent from the first quarter. The deliveries were slightly above the lower end of the guidance range it provided on June 9 of 23,000 to 25,000 vehicles.

In the first half of the year, Nio delivered 54,561 vehicles, an increase of 7.35 percent year-on-year.

Nio's delivery rebound in June was helped by the start of deliveries of several new models, especially the new ES6.

The company launched the new ES6, based on the NT 2.0 platform, in China on May 24, with deliveries starting on launch night.

On June 15, Nio launched the ET5 Touring in China, with deliveries starting on June 16.

On June 28, Nio began deliveries in China for the new ES8, the flagship SUV launched on Nio Day 2022 on December 24, 2022.

Tesla (NASDAQ: TSLA) sold 17,400 units last week, ranking fourth among premium brands, according to the table shared by Li Auto.

The top-selling premium brands in China last week continued to be German luxury brands BMW, Audi and Mercedes-Benz, with 20,800, 20,500 and 19,600 respectively.

Li Auto was No. 6 in premium brand sales, behind Cadillac. Nio was No. 9, behind Volvo and Lexus.

Leapmotor was at 3,400 last week, at 3,200, at 3,100 and (NYSE: XPEV) at 2,700.

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Xpeng delivers 8,620 vehicles in Jun, Q2 deliveries exceed guidance range

delivered 8,620 vehicles in June, up 14.84 percent from May and the fifth straight month of sequential growth. First deliveries of the G6 will begin later this month.

Xpeng (NYSE: XPEV) deliveries continued to improve modestly ahead of the start of deliveries of the new SUV G6.

The electric vehicle (EV) maker delivered 8,620 vehicles in June, up 14.84 percent from May and its fifth straight month of improvements sequentially, despite a 43.64 percent decline from a year ago, data released today showed.

Deliveries of Xpeng's flagship sedan P7 series rose 17 percent in June from the previous month, it said, without disclosing specific figures.

The company delivered 23,205 vehicles in the second quarter, up 27.29 percent from the first quarter but down 32.59 percent from the previous year.

The second-quarter deliveries were above the upper end of Xpeng's previous guidance range of 21,000 to 22,000 vehicles. It guided for second quarter revenue of between RMB 4.5 billion ($620 million) and RMB 4.7 billion.

In the first half of the year, Xpeng delivered 41,435 vehicles, a 39.93 percent decrease from 68,983 vehicles in the same period last year.

As of June 30, Xpeng's cumulative deliveries since inception were 300,145 vehicles, surpassing the 300,000 mark, data monitored by CnEVPost showed.

Xpeng launched its new SUV, the G6, in China on June 29 at a price significantly lower than its main competitor, the (NASDAQ: TSLA) Model Y.

The company is offering five versions of the G6 with starting prices of RMB 209,900, RMB 229,900, RMB 234,900, RMB 254,900 and RMB 276,900, respectively.

The starting price is RMB 15,100 lower than Xpeng's G6 pre-sale starting price of RMB 225,000 announced on June 9, and RMB 54,000 lower than the Model Y's starting price of RMB 263,900 in China.

Xpeng chairman and CEO He Xiaopeng said at the G6 launch event that the G6 had more than 35,000 pre-sale orders as of June 28 since pre-sale began on June 9.

(Image credit: CnEVPost)

The G6 is expected to become the top-selling smart electric SUV priced at the RMB 250,000 level in China within two months, he said.

In an interview with local media on June 30, Mr. He said the monthly sales target for the G6 is at least 10,000 units.

Initial deliveries of the G6 are set to begin this month, and display vehicles have arrived at showrooms nationwide and are ready for test drives, Xpeng said today.

Xpeng's ADAS feature, XNGP, will be available immediately upon delivery of all G6 Max versions, it said, adding that it plans to roll out its "AI Valet Driver" feature for all XNGP-equipped vehicles beginning in the fourth quarter.

The "AI Valet Driver" mode allows users to customize smart driving routes to their preferences in multiple Chinese cities, making driving in everyday driving scenarios safer and more efficient, the company said.

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Xpeng targets G6 monthly sales of over 10,000

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Xpeng targets G6 monthly sales of over 10,000

'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.

(Image credit: CnEVPost)

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 (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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Xpeng officially launches G6 with starting price of $29,010 to regain past glory

The G6 is expected to be the top-selling smart electric SUV in China in the RMB 250,000 price level within two months, said 's CEO.

(Image credit: Xpeng)

Xpeng (NYSE: XPEV) today officially launched its highly anticipated new SUV, the G6, in China at prices significantly below the pre-sale price to recapture its past glory.

The G6 is a direct competitor to the Model Y, and Xpeng is offering it in five versions, including two Pro versions and three Max versions.

These five versions start at RMB 209,900 ($29,010), RMB 229,900, RMB 234,900, RMB 254,900 and RMB 276,900 respectively.

The starting price is RMB 15,100 lower than Xpeng's G6 pre-sale price of RMB 225,000 announced on June 9.

The G6 measures 4,753 mm in length, 1,920 mm in width and 1,650 mm in height, and has a wheelbase of 2,890 mm, which is essentially the same as the Tesla Model Y, which measures 4,750 mm in length, 1,921 mm in width and 1,624 mm in height, and has a wheelbase of 2,890 mm.

The Model Y is currently available in three versions in China, with starting prices of RMB 263,900, RMB 313,900 and RMB 363,900 respectively.

The Tesla model sold 31,054 units at retail in China in May, making it once again the best-selling SUV in the country, according to a ranking released earlier this month by the China Passenger Car Association (CPCA).

Xpeng began pre-sales of the G6 on June 9 and later announced that the model had received more than 25,000 orders in 72 hours.

At today's launch event, Xpeng chairman and CEO He Xiaopeng said the G6 had more than 35,000 pre-sale orders as of June 28 since June 9.

The G6 is expected to become the top-selling smart electric SUV priced at the RMB 250,000 level in China within two months, he said.

It's worth noting that while Xpeng previously emphasized that the G6's most direct competitor is the Tesla Model Y, Mr. He's comments seem to rule out comparisons to the Model Y, which is priced above RMB 250,000 for all versions.

In China, consumers generally prefer SUVs with more space, which is why the earliest models from startups including Xpeng, (NYSE: Nio) and (NASDAQ: LI) were all SUVs.

Tesla's Model Y has also quickly become one of the best-selling electric vehicles in China after it starts production at its Shanghai plant in 2021.

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.

Based on the 800 V platform, the Xpeng G6 boasts more than 100 advanced features, including a 3C battery that supports ultra-fast charging, and the company's signature driver assistance software, XNGP.

Four versions of the vehicle are single-motor rear-wheel drive models, offering a choice of two ranges -- 580 and 755 kilometers. The most expensive version is a dual-motor four-wheel drive model with a CLTC range of 700 kilometers.

The G6 can be charged from 0 to 80 percent in as little as 20 minutes, with combined energy consumption as low as 13.2 kWh per 100 km.

The model is equipped with battery cells from 's local rival CALB and battery packs produced by Xpeng's plant in Wuhan, Hubei, according to a previous regulatory filing.

In terms of performance, the lowest-priced Xpeng G6 can accelerate from 0 to 100 km/h in 6.6 seconds, while the highest-priced 4WD version is 3.9 seconds.

XNGP is an all-scenario assisted driving system, and Xpeng aims to have it provide driving assistance in all scenarios including highways, city roads, internal campus roads, and parking lots.

On June 15, Xpeng announced that the urban part of the system, City NGP (Navigation Guided Pilot), became available in Beijing after Guangzhou, Shenzhen and Shanghai.

Xpeng announced at today's launch event that XNGP will cover an additional 50 Chinese cities in the second half of the year, with the goal of being available in 200 cities next year.

The G6 show cars and vehicles for test drives are already available in Xpeng showrooms in China, and deliveries of the model will begin in July.

Xpeng also said today that the G6 is based on Chinese and European five-star safety standards and that deliveries in Europe will also begin next year.

Xpeng restarted its European expansion, once on hold, with the launch of the G9 and the new P7 in Europe in February.

The G6 will be crucial for Xpeng to boost weak sales, which fell to 5,218 units in January and have only recovered to just over 7,000 units in the past three months.

The G6 will be a hot seller in China's new-energy SUV market in the RMB 200,000 to 300,000 range, and will enable Xpeng's total deliveries to grow well above the industry's pace in the third quarter, the company's management said in a May 24 analyst call following its first-quarter earnings announcement.

Xpeng management also said at the time that it had set aside about two months between the start of production and delivery of the G6, a model that Xpeng hopes will reach more than double the sales of the P7i.

This means that Xpeng management expects monthly sales of the G6 to reach 6,000-8,000 units, Deutsche Bank analyst Edison Yu's team said in a May 30 research note.

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XPeng making its last stand with G6, says Deutsche Bank

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