XPeng has big plans to shake up the affordable electric vehicle space, and the opening salvo is about to be fired. CEO He Xiaopeng revealed during the company’s Q1 earnings call that its first sub-brand MONA model – a pint-sized pure electric sedan – will make its debut next month before officially launching in Q3 2024.
MONA is just the beginning, by Q4, XPeng also plans to deliver its B-class electric sedan under the XPeng brand itself. This compact EV is targeted to become an instant “hit” thanks to a lofty 25% reduction in manufacturing costs compared to previous models.
MONA and mystery B-sedan are essentially an affordable one-two punch setting the stage for XPeng’s aggressive move downmarket over the next few years. He Xiaopeng says the company will be carpet-bombing the 100,000 to 400,000 yuan ($14,500 to $58,000) price ranges with a relentless stream of new models spanning all major vehicle segments.
XPeng’s MONA: An A-Class “Star” is Born?
As for the MONA itself, big claims are being made, He Xiaopeng hyped it as a potential “star product that will shake up the A-class pure electric market” by combining top-tier intelligence with aggressive pricing, aided by XPeng’s latest guided XNGP driving tech.
Whether the MONA lives up to that billing remains to be seen, XPeng is betting big that an onslaught of affordable mainstream EVs crammed with smart features will be its ticket to the major leagues.
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