Xpeng, a prominent Chinese electric vehicle (EV) maker listed on the NYSE under the ticker symbol XPEV, has reached a significant milestone with the first production vehicles of its latest electric sedan, the P7+, rolling off the assembly line at its Guangzhou production facility. This marks a crucial step towards the formal launch and upcoming deliveries of the model in China, scheduled to commence in early November.
He Xiaopeng, the chairman and CEO of Xpeng, took to Weibo to announce this exciting development. He mentioned that the Xpeng P7+ has garnered strong orders since the beginning of pre-sales and is now undergoing the final stages of mass production capacity ramp-up. The vehicles are currently being shipped to Xpeng’s stores across the country, inviting interested individuals to visit these stores and experience the model firsthand.
The Xpeng P7+ was recently introduced to European consumers in Paris, France, on October 14. Following this global unveiling, the model became available for pre-sales in China at an initial price of RMB 209,800 ($29,510). It is common practice for Chinese EV manufacturers to adjust prices lower than pre-sale rates upon official launch, potentially offering the P7+ at a starting price of RMB 190,000.
To further incentivize early reservations, customers in China can secure a RMB 3,000 reduction on the P7+ by paying a refundable RMB 99 reservation fee. This initiative has proven to be successful, with Xpeng announcing that pre-orders for the P7+ surpassed 30,000 units within the first two hours of the pre-sales launch.
Deutsche Bank analyst Wang Bin and his team anticipate that the Xpeng P7+ will achieve an average monthly sales volume of 6,000 units, aligning with market expectations of 5,000-7,000 units per month. This optimistic projection reflects the growing demand for high-quality electric vehicles in the Chinese market and Xpeng’s established reputation for delivering innovative and competitive products.
As Xpeng gears up for the formal launch and widespread availability of the P7+ in China, industry experts and consumers alike eagerly anticipate the positive impact this advanced electric sedan will have on the evolving automotive landscape. With its cutting-edge technology, sleek design, and competitive pricing, the Xpeng P7+ is poised to make a significant contribution to the ongoing electrification revolution in the global automotive industry.
