Photo: Xpeng
How do you leave your competitors in a cloud of dust in the car industry? That should be easy if you can afford it, of course. You slash the prices. And that is precisely what Xpeng did in China in order to undercut Tesla’s Model Y.
And apparently, it works. Xpeng’s US-listed shares jumped over 11% last Friday after the electric car manufacturer announced prices for the latest model in the lineup, the G6, to begin with.
Tesla has just finished a new quarter record. They delivered 466,160 cars worldwide from April to June, with the Model Y/Model 3 being the A-listers of the lineup. China was the biggest market for the Model Y. But Xpeng is trying to undercut the Americans on the local market with a price that is far under that of the Y. The Chinese-made electric crossover starts at 209,900 yuan ($28,882). Meanwhile, the Model Y starts at 263,900 yuan ($36,480).
The Chinese carmaker is hoping to sell 10,000 units per month and is counting on the governmental 520-billion yuan tax break for the new energy vehicle purchases to make things easier for customers.
To keep up with the Xpeng G6, Tesla should cut prices of the Model Y by approximately 20%.
It wasn’t much that the carmaker revealed back then. The car comes with a 114-inch (2.890-millimeter) wheelbase and a total length of 187 inches (4,753 millimeters), figures that send it straight into the mid-size crossovers’ segment.
Two versions are available on the local market. The entry-level one is a rear-wheel drive, powered by an electric motor mounted on the rear axle. It develops 292 hp (296 PS) and 324 lb-ft (440 Nm) of torque. The other one comes with two electric motors for a total of 480 hp (487 PS) and 487 lb-ft (660 Nm) of torque.
What draws the attention is the minimalist design. The panoramic sunroof covers 21.5 square feet (2 square meters).
In Shanghai, the company reps claimed that the model meets the highest safety standards in China, Europe, and North America. But the G6 is only available in China for the moment, and the carmaker shows no intentions of exporting it to other continents yet.
Tesla has just finished a new quarter record. They delivered 466,160 cars worldwide from April to June, with the Model Y/Model 3 being the A-listers of the lineup. China was the biggest market for the Model Y. But Xpeng is trying to undercut the Americans on the local market with a price that is far under that of the Y. The Chinese-made electric crossover starts at 209,900 yuan ($28,882). Meanwhile, the Model Y starts at 263,900 yuan ($36,480).
The Chinese carmaker is hoping to sell 10,000 units per month and is counting on the governmental 520-billion yuan tax break for the new energy vehicle purchases to make things easier for customers.
To keep up with the Xpeng G6, Tesla should cut prices of the Model Y by approximately 20%.
What is the Xpeng G6?
The G6 made its debut at the Auto Shanghai 2023 as what the carmaker called "a dream car for the younger generation." Based on the company’s redesigned Smart Electric Platform Architecture (SEPA 2.0), the model comes with 800V technology and 3C battery cells. The car can drive as far as 469 miles (755 kilometers) before it needs to be plugged in again. It benefits from fast charging capability, so the battery pack needs 10 minutes to be ready for a trip of up to 186 miles (300 kilometers).It wasn’t much that the carmaker revealed back then. The car comes with a 114-inch (2.890-millimeter) wheelbase and a total length of 187 inches (4,753 millimeters), figures that send it straight into the mid-size crossovers’ segment.
Two versions are available on the local market. The entry-level one is a rear-wheel drive, powered by an electric motor mounted on the rear axle. It develops 292 hp (296 PS) and 324 lb-ft (440 Nm) of torque. The other one comes with two electric motors for a total of 480 hp (487 PS) and 487 lb-ft (660 Nm) of torque.
What draws the attention is the minimalist design. The panoramic sunroof covers 21.5 square feet (2 square meters).
In Shanghai, the company reps claimed that the model meets the highest safety standards in China, Europe, and North America. But the G6 is only available in China for the moment, and the carmaker shows no intentions of exporting it to other continents yet.
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