A facelift of the Xpeng P7 is expected to debut in March, the new SUV G7 is expected to be unveiled at the Shanghai auto show, and an MPV model is scheduled to begin mass production in September, according to local media.
(Image credit: CnEVPost)
Xpeng (NYSE: XPEV) will launch two new models in 2023 and revamp three existing older models with a goal of delivering 200,000 vehicles for the year, local media reported.
Xpeng chairman and CEO He Xiaopeng revealed the goal in an internal all-staff letter on January 28, according to a report by LatePost today.
Today is the first working day after the Chinese New Year holiday from January 21 to January 27, even though it's a weekend on the calendar. In his letter, Mr. He reviewed Xpeng's 2022 and listed new vehicle plans, delivery targets and internal expectations for 2023, according to the report.
Xpeng offered only one new model, the G9, in 2022, and its deliveries only began in late October. The company's delivery performance was weak in the second half of last year, with October deliveries down 50 percent to just 5,101 units.
The company delivered 11,292 vehicles in December, bringing its deliveries since inception to 258,710, according to data monitored by CnEVPost.
In 2022, Xpeng delivered 120,757 units, up 23 percent from 98,155 units in 2021.
In his letter today, Mr. He said Xpeng is aiming for cumulative deliveries of 450,000 vehicles in 2023, or nearly 200,000 vehicles in 2023, according to LatePost.
By comparison, Xpeng's local peer Li Auto (NASDAQ: LI) is targeting 350,000 sales in 2023, according to the report.
Li Auto's steady-state monthly sales of its flagship SUV, the Li L9, are expected to be in the range of 8,000 to 10,000 units, while the Li L7 and Li L8 are both expected to be in the range of 10,000 to 15,000 units, Jiemian quoted Li Auto vice president of sales Liu Jie as saying in a group media interview at the Guangzhou auto show on January 5.
That means Li Auto could reach perhaps 40,000 monthly deliveries in 2023, Jiemian's report noted.
Li Auto delivered a record 21,233 vehicles in December, with deliveries of both the Li L9 and Li L8 exceeding 10,000, figures released earlier this month showed.
For the full year 2022, Li Auto delivered 133,246 vehicles, for a cumulative total of 257,334 deliveries since inception.
On December 25, 2022, William Li, founder, chairman and CEO of Nio (NYSE: NIO), said in a media group interview on the second day of Nio Day 2022 that Nio's sales in 2023 are expected to surpass Lexus' internal combustion engine vehicle sales in China.
Lexus' fuel vehicle sales in China in 2021 were about 200,000 units, and Li's remarks imply that Nio is expected to sell more than 200,000 vehicles in 2023.
Nio delivered a record 15,815 vehicles in December and a total of 122,486 vehicles in 2022. As of December 31, 2022, cumulative deliveries of Nio vehicles reached 289,556 vehicles.
To reach its sales target, Xpeng will offer many new models in 2023.
Xpeng will revamp three models on sale this year -- the P7, G3i and P5 -- with the P7 facelift expected to debut in March this year, according to LatePost.
The company will also launch two new models this year, both of them based on the 800V high-voltage platform, the report said, citing multiple sources.
One of the models is the G7, a five-seat SUV based on Xpeng's F platform with a starting price of RMB 200,000 ($29,480)-250,000, which is expected to be unveiled at this year's Shanghai auto show, according to the report.
Another new model from Xpeng is an MPV, internally codenamed H93, based on the H platform, with production scheduled to begin in September this year, the report said.
Xpeng was also previously working on a large SUV based on the F platform, internally codenamed F62, to take on the Audi Q7. But sources close to the company said the F62 model has now been canceled, according to the report.
For Nio, this is also the year it offers a slew of new models. The company expects to release five models by the first half of the year, two of which -- the new ES8 and the EC7 -- were already launched at Nio Day 2022 last month.
Li Auto will host the launch of the Li L7 on February 8, which will be its latest extended-range electric vehicle (EREV) offering in addition to the Li L9 and Li L8.
In addition, Li Auto's all-electric vehicle based on the 800 V high-voltage platform will also be available this year, the LatePost report noted.
In 2023, products from Nio, Xpeng, and Li Auto will see more intense competition in several market segments.
In the five-seat SUV market, the Xpeng G9 and G7 will meet the Nio ES6 and ES7 as well as Li Auto's Li L7.
In the MPV market, Xpeng's new model codenamed H93 will meet Li Auto's all-electric vehicle, the LatePost report said.
In addition to the new models, Mr. He said Xpeng is determined to make autonomous driving the company's core label, according to the report. An unmodified robotaxi based on the production version of the G9 has already begun operating in Guangzhou.
