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Xpeng Launches Battery Leasing Service
COVID-19 and China
Image credit: Xpeng

This new service will allow the users to divide the cost of the battery and pay it in 84 monthly installments within seven years.

According to the company, users of the service can buy an Xpeng EV without the battery pack, hence paying a much lower price. After completing the full contract across seven years, the consumer can have ownership of the battery pack.

The newly-launched service will be available to the Xpeng G3's 520i series and the P7's AWD high performance and RWD super-long range versions. Currently, the service is set to be deployed in Beijing, Shanghai, Guangzhou, Shenzhen, Hangzhou, Tianjin, Wuxi, Ningbo, Foshan, Dongguan, Wuhan and Chengdu under a pilot project.

Taking the Xpeng G3 52i standard-range version as an example, a user can pay only CNY 122,800 to get the vehicle without the battery pack and spend CNY 780 per month for using the battery pack. Besides, Xpeng Motors also grants a 30% down payment ratio for consumers to get the battery-free car body, thus people only need to pay as little as CNY 36,840 before they drive a car home.

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Editor: Luke Sheehan
https://equalocean.com/analysis/2020082914643

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