Xpeng (NYSE: XPEV) is gearing up to launch its next-generation P7 coupe sedan in the third quarter of this year, with plans to target the mid-to-high end sedan market and expand its presence overseas. The new P7, internally known as E29, is set to debut in China in July-August, with a price tag of around RMB 300,000 ($41,600).
The Chinese electric vehicle (EV) maker will assess demand in different countries and regions to determine where the new P7 will be made available. The company recently unveiled the first official images of the coupe sedan, signaling its intent to capture the global market with this sleek and stylish model.
The original P7 made its debut at the Shanghai auto show in 2019 and was officially launched in April 2020. Since then, it has been a popular choice among consumers, with impressive sales figures of 60,569 units in 2021 and 59,066 units in 2022. The success of the P7 has solidified Xpeng’s position in the EV market, with the sedan contributing significantly to the company’s annual deliveries.
In March 2023, Xpeng introduced the P7i sedan as a successor to the P7, while also launching the P7+ mid to large-size sedan in November 2024. The P7+ focuses on family use, offering more space, while the new P7 is designed to be more intelligent and performance-oriented.
The new P7, based on the E platform shared with the G9 SUV, will feature Xpeng’s own Turing chip for enhanced performance and intelligence. This chip, with a computing power of about 700 TOPS, is set to revolutionize the driving experience for Xpeng’s customers.
Designed by Xpeng’s lead exterior designer Rafik Ferrag, the new P7 promises to be a game-changer in the EV landscape. Ferrag envisions the updated P7 as a bold and emotional upgrade to the iconic electric sports sedan, blending AI-powered luxury, cutting-edge Xpeng Turing Smart Driving, and an immersive smart cockpit.
With this new generation P7, Xpeng aims to set new benchmarks in the EV industry, offering customers a unique blend of technology, luxury, and performance. The company’s chairman and CEO, He Xiaopeng, sees the new P7 as a significant step towards the brand’s next technological leap, showcasing the company’s commitment to innovation and excellence.
Stay tuned for more updates on Xpeng’s new P7 coupe sedan as it prepares to hit the market in the coming months. ($1 = RMB 7.2111)
