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Xpeng has announced its astir costly car to date. Pictured present astatine a store successful Shanghai, China, connected July 2021 are 2 of Xpeng's antecedently released models, a P7 Wing Limited Edition successful greenish and a G3 SUV successful blue.
Qilai Shen | Bloomberg | Getty Images
BEIJING — Chinese electrical car start-up Xpeng has released its astir costly car to date, marking the company's foray into a higher terms range.
Shares of the automaker concisely fell by much than 15% successful Hong Kong trading Thursday.
On Wednesday night, Xpeng announced its newest car, the G9 SUV, volition beryllium priced from 309,900 yuan ($44,270) to 469,000 yuan. Deliveries are acceptable to statesman successful China successful October, the institution said.
The terms scope makes Xpeng's latest car mostly cheaper than caller SUV offerings this autumn from Nio and Li Auto. Nio's ES7 sells for 468,000 yuan to 548,000 yuan, portion Li Auto's Li 9 lists a terms of 459,800 yuan.
The G9 is besides cheaper than Tesla's Model Y, a mid-sized SUV that starts astatine 316,900 yuan.
However, Xpeng's erstwhile cars person been priced successful a overmuch little range.
The company's best-seller truthful far, the P7 sedan, costs betwixt 239,900 yuan and 387,900 yuan depending connected driving range. The company's different sedan, the P5, tin beryllium bought for arsenic debased arsenic 179,900 yuan.
Xpeng's archetypal SUV, which is present lone disposable arsenic an upgraded exemplary called G3i, runs from 181,900 yuan to 201,900 yuan.
For comparison, wrong sedans, Nio's merchantability for 328,000 yuan to 536,000 yuan. Tesla's Model 3 starts astatine 279,900 yuan, aft applicable subsidies.
BYD, the ascendant section person successful China's electrical car market, sells successful an adjacent little terms range. The company's fashionable Han sedan runs from 214,800 yuan, aft subsidies, to 329,800 yuan.
In all, BYD's Qin, Han and Dolphin cars made the apical 5 best-selling caller vigor rider cars successful China for the archetypal 8 months of the year, according to the China Passenger Car Association. That database didn't see SUVs.
Tesla's Model 3 ranked sixth, portion Xpeng's P7 ranked 10th, the relation information showed.
One of Xpeng's selling points has been its assisted-driving software. This week, the institution announced it is rolling retired the latest mentation of the software — which covers municipality situations successful summation to highways — to immoderate users successful the confederate Chinese metropolis of Guangzhou.
In summation to assisted-driving software, the G9 features accelerated artillery charging and what Xpeng calls "an immersive 5D experience" wrong the car for watching movies and listening to music. The institution claimed that aft it revealed that in-car acquisition successful August, it received much than 20,000 pre-orders for the G9 successful the archetypal 24 hours of reservations.
"We're precise assured this G9 volition beryllium a precise fashionable SUV successful its class," Brian Gu, Xpeng president and honorary vice chairman, said successful an interrogation with CNBC's Eunice Yoon this week.
"We deliberation the measurement of G9 adjacent twelvemonth volition transcend what we person achieved for P7, which makes it 1 of our top-selling vehicles," helium said.
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