XPeng will launch two new models in 2023 and revamp three existing older models with a goal of delivering 200,000 vehicles in the year of 2023.
XPeng (NYSE:XPEV) (Chinese:小鹏汽车) will launch two new models in 2023 and revamp three existing older models with a goal of delivering 200,000 vehicles in the year of 2023, according to an internal opening letter of Xpeng on January 28. He Xiaopeng, XPeng chairman and CEO, revealed the goal in this letter. From the known information, the models included facelifts of current models: P7, P5, and G3. With this new turn of events, Xpeng will add a coupe SUV and an MPV to its lineup for 2023.
It is said that the new P7 has now been declared at the Ministry of Industry and Information Technology, with few changes to the exterior, offering a LIDAR version with the LIDAR hidden in the headlight cluster position. It will be equipped with an 86.2kWh battery pack, with 610km, 670km and 702km range options.
Before this internal opening letter revealed, it would cut prices on some of its most popular models. The move comes after Tesla and others in the region have implemented similar price drops, fueling what could be a competitive pricing war in China.
Xpeng is slashing prices by up to $5,300, including its best-selling P7 sedan, which will start nearly 13% lower at 209,900 yuan ($31,000). Prices of the P5 sedan (now $23,180) and G31 SUV (currently $22,000) were also lowered significantly starting Tuesday. The company said it would offer recent buyers (before the price cuts) free extended maintenance as compensation.