- Xpeng's first EREV model will be developed based on the X9 MPV and will go into mass production in the second half of this year, according to local media.
- Xpeng announced the Kunpeng extended-range system on November 16, 2024, marking an important strategic shift.
Xpeng (NYSE: XPEV) has planned at least 5 extended-range electric vehicle (EREV) models, including sedans and SUVs (sport utility vehicles), local media 36kr reported today.
"It's a bit like the P7 and G6 will both have EREV variants," the report quoted a source as saying. The P7 is a sedan, while the G6 is an SUV.
Xpeng's first EREV model will be developed based on the X9 MPV (multi-purpose vehicle) and will go into mass production in the second half of this year, according to the report.
The company's E, F and H platforms will all have EREV models, which will be launched in 2026 and 2027, according to the source.
In the future, the vast majority of Xpeng's new models will offer both EREV and battery electric vehicle (BEV) variants, the source said.
Xpeng officially confirmed it would launch EREV models when it unveiled the Kunpeng extended-range system at its AI technology day event on November 16, 2024.
The company said at the time that vehicles equipped with the Kunpeng system will have a combined range of up to 1,400 kilometers and a battery range of up to 430 kilometers.
The system uses a battery pack that supports 5C fast charging, which can charge from 10 percent to 80 percent in 12 minutes, with an average of about 1 kilometer charged per second, according to Xpeng.
Founded in 2014, Xpeng, like most of its domestic counterparts, initially only offered BEV models.
However, as EREV models have become popular in China over the past few years, many EV makers have begun to add such hybrid models to their product lines in order to target a larger market.
There were reports in 2022 that Xpeng planned to launch EREV models, but the company denied them at that time.
In late 2022, when the company discussed strategic transformation internally, it was faced with two options: offering low-priced models, or switching to other power forms, according to the report by 36kr today.
Xpeng chose the strategy of offering low-priced models at that time, which is the Mona lineup today, the report said.
At that time, China's EREV market was unstable, with Li Auto (NASDAQ: LI) only selling about 130,000 vehicles for the year, and Neta Auto still being the new energy vehicle (NEV) sales champion, the report noted.
But by 2024, the EREV market has exploded, with multiple automakers, including Li Auto, Aito, and Leapmotor (HKG: 9863), proving the appeal of such models.
Almost all EV makers, except Tesla (NASDAQ: TSLA) and Nio (NYSE: NIO), now have plans for EREV products, the report noted.
After announcing the Kunpeng extended-range system in November last year, Xpeng has not yet announced a specific timetable for the launch of its first EREV model.
During a March 18 earnings call, Xpeng management said the company planned to start delivering multiple new models, including BEV models and models equipped with the Kunpeng extended-range system, in the second half of this year.
Xpeng will offer both powertrains in most of its upcoming models, significantly expanding the market reach through super hybrid products, the company said during the call.
Xpeng would launch new or facelifted models every quarter this year, its management said.
By the end of 2026, Xpeng's products would cover a price range of RMB 100,000 ($13,770) to RMB 500,000, involving compact to large cars, the company said.
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