Xpeng Receives 10,000 Pre-orders for Budget MONA M03 EV in First Hour
Chinese electric vehicle manufacturer Xpeng Motors reported over 10,000 non-refundable pre-orders for its new budget-friendly model, the MONA M03, within the first hour of its unveiling. The launch caused Xpeng’s US-listed shares to rise by 6.5%. Priced between RMB 119,800 and RMB 155,800, the M03 targets young, tech-savvy consumers and aims to compete with best-sellers like the BYD Qin and Nissan Sylphy. The vehicle features a camera-only autonomous driving system, eliminating expensive lidar sensors to reduce costs while offering advanced driver assistance capabilities. The top-end version promises full roadway autonomy by next spring. Designed with aerodynamic efficiency and powered by a BYD lithium iron phosphate battery, the car offers a range of up to 620 km. Xpeng CEO He Xiaopeng stated the project, developed with Didi’s EV business, aims for annual sales of 100,000 units. Although initial gross margins may be low, the company anticipates a strong sales recovery, positioning the M03 as a significant challenger in the competitive entry-level EV market.
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Xpeng Receives 10,000 Pre-orders for Budget MONA M03 EV in First Hour
Chinese electric vehicle manufacturer Xpeng Motors reported over 10,000 non-refundable pre-orders for its new budget-friendly model, the MONA M03, within the first hour of its unveiling. The launch caused Xpeng’s US-listed shares to rise by 6.5%. Priced between RMB 119,800 and RMB 155,800, the M03 targets young, tech-savvy consumers and aims to compete with best-sellers like the BYD Qin and Nissan Sylphy. The vehicle features a camera-only autonomous driving system, eliminating expensive lidar sensors to reduce costs while offering advanced driver assistance capabilities. The top-end version promises full roadway autonomy by next spring. Designed with aerodynamic efficiency and powered by a BYD lithium iron phosphate battery, the car offers a range of up to 620 km. Xpeng CEO He Xiaopeng stated the project, developed with Didi’s EV business, aims for annual sales of 100,000 units. Although initial gross margins may be low, the company anticipates a strong sales recovery, positioning the M03 as a significant challenger in the competitive entry-level EV market.
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