Premium Chinese EV maker Xpeng eyes slice of mass-market segment with launch of cheaper models to take on bigger rival BYD
- Xpeng will launch a compact EVs priced ‘between 100,000 yuan and 150,000 yuan’ for the China and global markets, co-founder and CEO He Xiaopeng said
- Premium EV makers are looking to grab a slice of the pie from BYD, Shanghai analyst says
“We will launch a class A compact EV at a price range of between 100,000 yuan and 150,000 yuan, which will come with an advanced driver assistance system, for both the China and global markets,” He said during the China EV 100 Forum in Beijing, according to a video clip seen by the Post. “In future, cars with the same prices might be developed into fully-autonomous vehicles.”
Xpeng confirmed He’s remarks and said in a statement that the company envisions slashing the development and production costs of autonomous driving technology by 50 per cent this year. At present, Xpeng assembles smart EVs that are sold at more than 200,000 yuan.
Premium EV makers are actively looking to grab a slice of the pie from BYD, said Eric Han, a senior manager at Suolei, an advisory firm in Shanghai. “The segment where EVs are priced from 100,000 yuan to 150,000 yuan is dominated by BYD, which has a variety of models targeting budget-conscious consumers,” Han said.
