XPeng Motors' shipment of nearly a thousand G9 vehicles to Germany marks a significant stride in its international expansion efforts.
XPeng Motors recently announced the inaugural shipment of nearly a thousand G9 vehicles to Germany, signaling a crucial advancement in the company's overseas endeavors. This export endeavor, valued at over 500 million yuan, establishes a historic milestone in the single-shipment export value of high-end intelligent electric vehicles from China.
The XPeng G9, built on an 800V platform, boasts a maximum range of 702 kilometers and features advanced technologies such as dual-chamber air suspension and dual laser radar. Additionally, the XPeng P7 has also been launched in the German market, offering three versions: rear-wheel drive with long range, four-wheel drive high performance, and four-wheel drive with falcon wing doors, all with a maximum range of 702 kilometers. In terms of pricing, the XPeng G9 is priced between 57,600 and 69,600 euros in Germany, while the P7 ranges from 49,600 to 69,600 euros, higher than domestic prices. Furthermore, to better penetrate the German market, XPeng Motors will adopt a dealership model for sales and collaborate with 12 local premium dealers, initially operating in 24 retail outlets, with plans to expand to 60 dealerships and 120 retail outlets by the end of 2026.
Since March, XPeng Motors' international expansion has been accelerating. The company has entered overseas markets such as ASEAN and Germany. For Thailand, Singapore, and Malaysia, XPeng Motors has already partnered with local dealers and plans to commence deliveries of the right-hand drive version of the XPeng G6 in the third quarter. Analysts suggest that XPeng Motors' internationalization process may be a response to its domestic sales bottleneck. Previous financial reports indicate that in 2023, XPeng Motors achieved revenue of 30.68 billion yuan, a year-on-year increase of 14.2%, but incurred a net loss of 10.38 billion yuan, a year-on-year expansion of 13.6%. In terms of sales volume, XPeng Motors sold 141,600 vehicles in 2023, slightly behind competitors such as Li Auto and NIO. To address this situation, XPeng Motors plans to increase investment in research and development, introduce A-class vehicles priced between 100,000 and 150,000 yuan, and expand sales to global markets.
Markus Schrick, XPeng Motors' Country Manager for Germany, stated that entering the German market is a major milestone for XPeng Motors. In the future, XPeng Motors will continue to expand its business in other European markets such as France, Italy, and the United Kingdom to enhance brand influence and market share, thereby accelerating the company's entry into a high-growth trajectory.