Xpeng delivered the Mona M03 to its first owners at the Chengdu auto show site, with volume deliveries of the model about to begin.
Xpeng's (NYSE: XPEV) Mona array debut model, the M03, appears to be seeing initial success and is expected to boost sales of the electric vehicle (EV) maker.
The Mona M03 received more than 30,000 firm orders in its first 48 hours of availability, Xpeng announced today on the first day of the Chengdu auto show.
He Xiaopeng, Xpeng's chairman and CEO, delivered the Mona M03 to its first owners on the show floor, and volume deliveries of the model are about to begin, according to the company.
Of the customers who ordered the Mona M03, 55 percent were under 30 years old and 61 percent were male, according to the company.
Xpeng officially launched the Mona M03 electric sedan on August 27, offering three variants with starting prices of RMB 119,800 ($16,880), RMB 129,800, and RMB 155,800 respectively.
That's well below Xpeng's previously hinted price of roughly RMB 135,900, and makes the model the least expensive of Xpeng's on-sale models, at roughly half the price of the Tesla (NASDAQ: TSLA) Model 3.
Shortly after the launch, Xpeng announced that the Mona M03 saw firm orders exceeding 10,000 units in the first 52 minutes.
The Mona M03 measures 4,780 mm in length, 1,896 mm in width and 1,445 mm in height, with a wheelbase of 2,815 mm.
It 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 both other variants.
The model's lower price is thanks to the use of smaller battery packs, which has a capacity of 51.8 kWh for the entry variant and 62.2 kWh for both the other two variants.
Xpeng said on Weibo yesterday that volume deliveries of the Mona M03 will soon kick off nationwide in China, and shared a video showing a parking lot full of soon-to-be-delivered vehicles.
($1 = RMB 7.0955)
Xpeng launches Mona M03 to rival Tesla Model 3 at half price
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