A video shows a parking lot full of soon-to-be-delivered Xpeng Mona M03 cars as they are being shipped out.
Xpeng (NYSE: XPEV) is getting ready for the deliveries of the M03, the first model in the Mona lineup, which will be critical to boosting sales.
The Mona M03 is about to kick off volume deliveries across China, the electric vehicle (EV) maker announced today on Weibo.
“Delivery upon launch, we are ready,” Xpeng said on Weibo.
Xpeng didn't provide more details, but it shared a video showing a parking lot full of soon-to-be-delivered Mona M03 cars as they were being shipped out.
Xpeng launched the Mona M03 electric sedan on August 27, offering three variants with starting prices of RMB 119,800 ($16,840), RMB 129,800, and RMB 155,800 respectively.
This is well below Xpeng's previously hinted price of around RMB 135,900, and makes the model the least expensive of Xpeng's on-sale models.
Shortly after the launch event, Xpeng announced that the Mona M03 saw a firm order count of over 10,000 units in the first 52 minutes. It did not provide further updates on the order numbers.
The Mona stems from Xpeng's August 2023 acquisition of ride-hailing giant Didi Global's EV business.
The first model in the Mona lineup is named the M03 and is meant to honor Tesla's (NASDAQ: TSLA) Model 3, Xpeng chairman and CEO He Xiaopeng said when he had the model unveiled on July 3.
At 4,780 mm, 1,896 mm and 1,445 mm in length, width and height respectively, and with a wheelbase of 2,815 mm, the Mona M03 is slightly larger than the Model 3, a Tesla model that measures 4,720 mm, 1,848 mm and 1,442 mm in length, width and height respectively, and has a wheelbase of 2,875 mm.
The Mona M03 is powered by a single motor only and is capable of accelerating from 0 to 100 kilometers per hour in 7.8 seconds for the entry version and 7.4 seconds for the other two variants.
The model's lower price is due to the use of smaller battery packs, 51.8 kWh for the entry variant and 62.2 kWh for the other two variants, which typically account for the bulk of an EV's cost.
Both battery packs for the Mona M03 are based on lithium iron phosphate chemistry and the supplier is BYD's battery division FinDreams Battery.
Xpeng will begin deliveries of the Mona M03 in September, with deliveries of the highest-priced Max variant starting after the Chinese New Year holiday in late January to early February 2025, the company said at the model's launch event.
The Mona M03 is key for Xpeng to boost sales after its lackluster sales performance so far this year.
Xpeng delivered 11,145 vehicles in July, up 1.24 percent year-on-year and up 4.47 percent from June.
That was the fifth consecutive month of year-on-year growth for Xpeng's monthly deliveries, but still only about half of the more than 20,000 monthly deliveries in the fourth quarter of last year.
($1 = RMB 7.1142)
Xpeng launches Mona M03 to rival Tesla Model 3 at half price
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