Xpeng said its plant is in full swing to expand capacity.
Xpeng (NYSE: XPEV) said today it saw its 10,000th P7+ roll off the assembly line, 20 days after the electric sedan was launched.
That's the fastest pace among China's new car makers, the electric vehicle (EV) maker said today on Weibo.
Xpeng's factory is in full swing to expand capacity, the Guangzhou-based company said.
Xpeng launched the P7+ on November 7, offering two regular variants with starting prices of RMB 186,800 ($25,780) and RMB 198,800, respectively.
The model was also offered in a limited edition with a starting price of RMB 218,800 and only 500 units available. The limited edition is currently sold out.
On November 11, Xpeng said national deliveries of the P7+ began.
In China's highly competitive EV market, quick delivery of new models after launch is seen as critical to capturing initial orders.
For Xpeng, a more streamlined selection of versions and faster delivery speeds also come from lessons learned from the past.
When Xpeng launched the G9 SUV (sport utility vehicle) in September 2022, it offered a large number of versions, which provided potential customers with more choices, but also created a lot of confusion.
The company tweaked the G9 soon after that and began simplifying configurations and speeding up deliveries on subsequent models.
Prior to the P7+, Xpeng launched the Mona M03 electric sedan on August 27, its first hot seller this year.
The Mona M03 is offered in three variants with starting prices of RMB 119,800, RMB 129,800, and RMB 155,800, making it the least expensive of Xpeng's models on sale.
The Mona M03 saw cumulative deliveries reach 30,000 units last week, Xpeng said today. Deliveries of the sedan began on August 30.
Despite Xpeng's efforts to boost production capacity, those who order the Mona M03 and P7+ now still have to wait for months to get deliveries.
Chinese customers who order the Mona M03 now can get deliveries in 8-12 weeks at the earliest, while for the P7+ it's 8-11 weeks, according to information monitored by CnEVPost.
The company currently has two factories, with the P7+ being produced at its plant in Guangzhou and the Mona M03 at its plant in Zhaoqing.
Xpeng plans to launch at least four new models in 2025, including all-new models as well as facelifts of existing models, the company's chairman and CEO He Xiaopeng said at a ceremony celebrating the 10,000th P7+ off the assembly line today, according to a video.
Xpeng targets 20,000 monthly production capacity for Mona M03 by Chinese New Year
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