Tesla’s Chinese rival Xpeng announced the launch of its P7 sedan and G9 SUV in Europe following bleak China sales last year.
Chinese electric vehicle (EV) startup Xpeng has launched two flagship vehicles in Europe. This launch is part of a broader international push by the Guangdong-based company as it looks to increase its brand’s global visibility.
On Friday, Xpeng launched its P7 sedan and its G9 sports utility vehicle (SUV) in Norway, Denmark, Sweden, and the Netherlands. The Chinese EV maker priced its P7 sedan below the EVs of US rivals Tesla (NASDAQ: TSLA) in these European countries. Xpeng is determined to undercut Tesla’s already prevalent lower-than-normal price discounts on its cars. The US electric vehicle manufacturer has been reducing prices globally to induce increased sales.
Although Xpeng president Brian Gu calls the company’s Europe launch a “significant milestone,” the Chinese EV maker faces stiff competition in the region. Besides Tesla, other Western automotive giants and even Chinese carmakers see Europe as a viable market for electric vehicles. The future of EVs waxes stronger every day as more businesses transition from fossil fuels to renewable energies.
Xpeng also appeared set to challenge Tesla’s dominance in its home state of China, although it still lags behind the Texas-based EV manufacturer on deliveries. Following a challenging year in China characterized by a demand slump, Xpeng has shifted its attention to international market expansion.
Closer Look at Xpeng Vehicles Slated for Europe Launch
Xpeng claims that its P7 sedan, priced at 49,990 euros ($54,917) in the Netherlands, can travel 576 kilometers on a single charge. By comparison, Tesla’s Model 3 Long Range, which reportedly covers 602 kilometers on a single charge, commands a starting price of 52,990 euros in Holland.
However, Xpeng’s G9 SUV has a higher starting price than the closely competing Tesla Model Y in the same country. The G9 SUV reportedly costs 57,990 euros in the Netherlands and covers a distance of 570 kilometers on a single charge. Meanwhile, Tesla’s Model Y Long Range has a slightly lower asking price of 53,990 euros. The American EV manufacturer’s fully-electric mid-size SUV can travel up to 533 kilometers on one charge.
EV Manufacturing Race Heats Up
Another prominent automobile-manufacturing company that staked its productive future on electric vehicles is Volkswagen. Last July, the German giant reported that its EV outlook remained excellent, and is expected to cut down on delivery times.
At the time, Volkswagen chief executive officer Herbert Diess revealed that the company had a “very good order intake in Asia.” Diess also said that Volkswagen would ramp up production beginning with “five assembly plants.”
Meanwhile, Xpeng local rival, Nio, started delivering a substantial number of electric vehicles to Norway at the end of 2021. Nio views the move as a prime opportunity because more than half of the new cars sold in Norway in 2020 were battery-powered electric vehicles.
As the global demand for electric vehicles picks up, several manufacturers continue to grapple with supply chain constraints and semiconductor shortages.
Tolu is a cryptocurrency and blockchain enthusiast based in Lagos. He likes to demystify crypto stories to the bare basics so that anyone anywhere can understand without too much background knowledge.
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