XPeng may launch lower-priced P7 with lithium iron phosphate batteries
Chinese electric vehicle maker XPeng Motors may launch a lower-priced P7 with CATL's lithium iron phosphate batteries, a regulatory filing shows.
XPeng's new model filing with China's Ministry of Industry and Information Technology (MIIT) shows no major changes in the exterior but uses lithium iron phosphate batteries from CATL, China's largest automotive lithium-ion battery maker.
There is no specific data yet on how large the battery capacity and range level of the new version of the P7 will be.
The car's drive motor is in line with the current model on sale, with a rated power of 80kW and a peak power of 196kW, the document shows.
From the model on sale, it can be learnt that the new P7’s peak torque may be 390N-m, with a 0-100 km acceleration time of 6.7 seconds.
Since the lithium iron phosphate battery is cheaper, it is reasonable to believe that the XPeng P7 with this battery may be priced lower.
The current price of XPeng P7 with ternary lithium battery is RMB 229,900 - 409,900.
Previously, the China-made Tesla Model 3 was priced at about RMB 250,000 lower for the entry model after using CATL's lithium iron phosphate battery.
Some media reports say that the entry price of XPeng P7 models with LiFePO4 batteries is expected to enter within RMB 200,000 for the first time, that is around RMB 180,000-190,000.
Compared to the prices of the BYD Han and Tesla Model 3, the new model P7's price gives it a clear competitive advantage in China's high-end electric sedan market.
Earlier media reports said that XPeng's local counterpart NIO plans to launch an entry-level model equipped with lithium iron phosphate batteries.
Yuguancheshi, which follows the Chinese auto market, said in early January that NIO had contracted a production line for lithium iron phosphate batteries from CATL and that the new batteries were being tested and prepared. As for what model it will be installed in, there is no accurate news yet.
But later Carcaijing quoted William Li, founder, chairman, and CEO of NIO, as saying that NIO is discussing various possibilities, and the battery will not be used in mass production in the short term.
"Lithium iron phosphate battery still needs some technical breakthroughs, such as the consistency of the battery at low temperatures," Li said he has seen some car companies suffer a lot of losses on this, making NIO think there is room for further breakthroughs in technology.
The report also quoted unnamed NIO people as saying that the consideration of lithium iron phosphate solution is related to improving battery range. "The discussion about the possibilities of the use of lithium iron phosphate batteries is related to the 100kWh battery plan. We have not contracted for the next line that CATL uses one of its lithium iron phosphate battery lines to produce our 100kWh batteries."