- The Mona M03 Max will feature the industry's top autonomous driving technology, Xpeng CEO said.
- Xpeng will build a $20,000 top-of-the-line smart driving product, he said.
Xpeng (NYSE: XPEV) will launch the Max variant of the Mona M03 with enhanced smart driving capabilities three months from now, after the electric sedan sees initial success.
The electric vehicle (EV) maker will launch the Mona M03 Max in May with the industry's top autonomous technology, its chairman and CEO He Xiaopeng said today.
Mr. He mentioned the timing at an event on artificial intelligence (AI) today, saying Xpeng will build a $20,000 top-of-the-line smart driving product.
Mr. He believes that in the next 10 years, the penetration of high-level smart driving features will increase from 2 percent to 50 percent, and may even reach 80 percent-90 percent.
Hours after the event, he said on Weibo that Xpeng will start delivering the Max version of Mona in May, which will bring an industry-leading model with smart driving capabilities in the RMB 150,000 price range.
Xpeng officially launched the Mona M03 on August 27, 2024, when it announced three variants -- 515, 620, and 580 Max -- with starting prices of RMB 119,800 ($16,390), RMB 129,800, and RMB 155,800, respectively.
Deliveries of the two lower-priced variants of the Mona M03 began in late August 2024, and Xpeng said in August last year that deliveries of the Max variant would begin in 2025 after the Chinese New Year holiday.
The two less expensive variants of the Mona M03 support pilot-assisted driving on highways, while the Max version will additionally support urban roads, Xpeng said previously.
The Mona M03 delivered 15,225 units in January, the fifth consecutive month above the 10,000-unit mark, contributing 50.16 percent of Xpeng's monthly deliveries, according to data compiled by CnEVPost.
The Mona M03's Max variant would have the same smart driving capabilities and experience as the P7+, said Yang Guang, product head of the Mona lineup, in a Weibo post last November.
The P7+ is Xpeng's mid-to-large-size electric sedan launched on November 7, 2024, with a starting price of RMB 186,800 yuan.
The P7+ delivered 8,114 units in January, contributing 26.73 percent of Xpeng's monthly deliveries.
($1 = RMB 7.3092)
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