Xpeng recently appointed Premium Automobiles in Singapore as its dealer, and its first model to retail there is expected to be the G6 SUV, according to The Straits Times.
(Image credit: CnEVPost)
Xpeng (NYSE: XPEV) will enter the Singapore market in the second half of 2024, according to a report in The Straits Times today.
The company recently appointed Singapore's Premium Automobiles as its distributor, and will be the second Chinese electric vehicle (EV) brand that Premium represents after Geely Zeekr, the report said, citing sources familiar with the negotiations.
The first Xpeng model to retail in Singapore is expected to be the G6 SUV, the report said.
Xpeng officially launched the G6 in China on June 29, 2023, with deliveries starting in early July last year.
The G6 has a starting price of RMB 209,900 ($29,160) in China, and Xpeng also has another higher-end SUV, the G9, which starts at RMB 263,900.
Xpeng delivered 4,545 vehicles in February, down 24.38 percent year-on-year and down 44.91 percent from January due to the Chinese New Year holiday and an upgrade at one of its factories.
The G6 delivered 1,161 units in February, contributing 25.54 percent of Xpeng's monthly deliveries and was the second highest Xpeng model delivered last month, according to data compiled by CnEVPost.
Xpeng's X9 MPV (Multi-Purpose Vehicle), launched on January 1, delivered 1,448 units in February.
Xpeng joins at least five Chinese brands planning to enter the Singapore market, including GAC Aion, which will be launched in April by Vincar, according to The Straits Times report.
On March 11, the South China Morning Post (SCMP) reported that Xpeng plans to launch its first right-hand drive model in the second half of this year, accelerating its entry into the global market and targeting markets such as Hong Kong and Southeast Asia.
Xpeng looks to target Thailand, Singapore and Malaysia to raise its international profile as a leading manufacturer of smart electric vehicles, the SCMP said, citing a written response to questions from the EV maker's chairman and CEO He Xiaopeng.
Xpeng has increased its focus on overseas markets this year, as competition in the domestic market grows red hot.
In an internal letter dated February 18 -- the first working day after China's 2024 Lunar New Year holiday -- He said 2024 will be the first year of V2.0 of Xpeng's internationalization efforts.
Xpeng would lay out in core markets in regions such as Europe, ASEAN, the Middle East, Latin America, and Oceania, and strengthen the local adaptation of its products, including left-hand drive and right-hand drive models, he said at the time, adding that the company would build a new path to globalization in terms of its products, smart driving, and branding.
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Xpeng to launch new brand within 1 month, targeting lower-priced market
