Tesla’s Chinese rival Xpeng has announced the launch of its P7 sedan and G9 SUV in Europe following dismal sales in China last year.
Chinese electric vehicle (EV) startup Xpeng has thrown out two flagship vehicles in Europe. This launch is part of a broader international push by the Guangdong-based company seeking to increase its brand’s global visibility.
On Friday, Xpeng launched its P7 sedan and G9 sport utility vehicle (SUV) in Norway, Denmark, Sweden and the Netherlands. The Chinese EV maker has priced its P7 sedan below the EVs of US rivals Tesla (NASDAQ: TSLA) in these European countries. Xpeng is determined to undermine the lower-than-usual price discounts already prevailing on its Tesla cars. The US electric vehicle maker has been cutting prices globally to induce increased sales.
Although Xpeng president Brian Gu calls the company’s launch in Europe a “significant milestone,” the Chinese EV maker faces stiff competition in the region. In addition to Tesla, other Western auto giants and even Chinese automakers see Europe as a viable market for electric vehicles. The future of electric vehicles is getting stronger every day as more companies switch from fossil fuels to renewables.
Xpeng also seemed poised to challenge Tesla’s dominance in its home state of China, though it still lags the Texas-based EV maker in terms of deliveries. After a challenging year in China characterized by falling demand, Xpeng has turned its attention to expanding the international market.
A closer look at the Xpeng vehicles scheduled for launch in Europe
Xpeng claims that its P7 sedan, priced at €49,990 ($54,917) in the Netherlands, can go 576 kilometers on a single charge. By comparison, Tesla’s Model 3 Long Range, which reportedly covers 602 kilometers on a single charge, starts at €52,990 in the Netherlands.
However, Xpeng’s G9 SUV commands a higher starting price than the closely competing Tesla Model Y in the same country. The G9 SUV reportedly costs €57,990 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. The all-electric midsize SUV from the US electric vehicle manufacturer can travel up to 533 kilometers on a single charge.
EV manufacturing race heats up
Another prominent automobile manufacturing company that bet its productive future on electric vehicles is Volkswagen. Last July, the German giant reported that its EV outlook was still excellent and it is expected to reduce delivery times.
At the time, Volkswagen CEO Herbert Diess revealed that the company had “very good order intake in Asia.” Diess also said Volkswagen would ramp up production starting with “five assembly plants.”
Meanwhile, Xpeng’s local rival Nio has started delivering a substantial number of EVs to Norway in late 2021. Nio sees the move as an excellent opportunity because more than half of the new cars sold in Norway in 2020 were battery electric. vehicles
As global demand for electric vehicles increases, several manufacturers continue to grapple with supply chain constraints and semiconductor shortages.
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Tolu is a Lagos-based blockchain and cryptocurrency enthusiast. He likes to demystify the crypto stories down to the basics so that anyone anywhere can understand them without too much prior knowledge. When he’s not up to his neck in crypto-stories, Tolu likes music, loves to sing, and is an avid movie buff.
