Xpeng is asking suppliers to boost capacity for the Mona M03 to help it improve delivery efficiency, saying in a letter that recent orders for the new model exceeded 2,000 units per day.
Xpeng (NYSE: XPEV) is asking suppliers to ramp up parts capacity as the M03, the first model in its Mona lineup, gains popularity.
Xpeng recently adjusted its production schedule, asking suppliers to respond quickly to boost production capacity and delivery efficiency for the Mona M03, local media 21Jingji reported today.
The electric vehicle (EV) maker said recent orders for the Mona M03 exceeded 2,000 units per day, following 30,000 locked-in orders for the model within 48 hours of its launch, the report noted.
The brief report said nothing more, but according to a letter sent by Xpeng to suppliers circulating on social media seen by CnEVPost, the EV maker said the biggest challenge is the lengthening of the delivery cycle at a time when the Mona M03 is becoming a hot seller.
In order to deliver the vehicle to customers sooner, Xpeng has recently adjusted its production schedule and hopes that suppliers will respond favorably as well, according to the letter.
“The voyage of the Mona M03 has just begun and we are confident about the future,” Xpeng told supplier partners.
Xpeng will be launching new models or updates to existing models in each of the upcoming quarters, the EV maker said, adding that a solid and smooth supply chain is the cornerstone of the company's success.
Xpeng officially launched the Mona M03 electric sedan on August 27, offering three variants with starting prices of RMB 119,800 ($16,830), RMB 129,800, and RMB 155,800 respectively.
That's lower than Xpeng's previously hinted price of around 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 more than 10,000 firm orders in the first 52 minutes.
On August 30, Xpeng announced on the first day of the Chengdu auto show that the Mona M03 received more than 30,000 firm orders in the first 48 hours after launch.
Deliveries of the Mona M03's two lowest-priced variants have already begun, while deliveries of the highest-priced Max variant will start after the Chinese New Year holiday in late January to early February 2025.
The entry-level Mona M03 currently has a delivery wait time of 5-7 weeks, and the variant in the middle of the price range is 7-9 weeks, according to CnEVPost's monitoring.
($1 = RMB 7.1186)
Xpeng Mona M03 gets over 30,000 orders in 48 hours, 1st deliveries begin
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