- Xpeng has begun deliveries of the G7, the first model to feature Xpeng's in-house Turing AI smart driving chip, which went on sale on July 4.
- The G7 received over 10,000 firm orders within the first nine minutes.
Xpeng (NYSE: XPEV) has begun deliveries of its new G7 model following the launch of the SUV (sport utility vehicle) last week.
He Xiaopeng, chairman and CEO of the Chinese electric vehicle (EV) maker, personally delivered G7 vehicles to some owners in Shanghai, according to information shared by the company on Weibo today.
Orders for the G7 in Shanghai far exceed those of its competitor Tesla (NASDAQ: TSLA) Model Y, and 70 percent-80 percent of orders in the city are for the highest-priced variant, according to content shared by some Weibo bloggers.
Xpeng is headquartered in Guangzhou, Guangdong province, southern China. Shanghai is the location of Tesla's Chinese factory.
Xpeng launched the G7 SUV on July 4, offering three variants -- 602 Max, 702 Max, and 702 Ultra -- with starting prices of RMB 195,800 ($27,300), RMB 205,800, and RMB 225,800, respectively.
This pricing is significantly lower than the Model Y, which currently offers two variants in China -- the standard range rear-wheel drive and the long-range all-wheel drive versions -- with starting prices of RMB 263,500 and RMB 313,500, respectively.
Shortly after the G7 launch event, Xpeng announced on Weibo that the G7 received over 10,000 firm orders within the first nine minutes.
The G7 measures 4,892 mm in length, 1,925 mm in width, and 1,655 mm in height, with a wheelbase of 2,890 mm.
These dimensions are larger than those of the Model Y, which measures 4,797 mm in length, 1,920 mm in width, and 1,624 mm in height, with a wheelbase of 2,890 mm.
The G7 is the first model to feature Xpeng's in-house developed Turing AI driving chip, offering up to 2,250 TOPS of computing power, making it the EV model with the highest smart driving computing power to date.
Xpeng guided annual sales of about 100,000 units for the G7, equivalent to roughly 8,000 units per month, according to a research note last week by Deutsche Bank analyst Wang Bin's team.
The team expects Xpeng to deliver 55,000 G7 units in the second half of 2025, in line with the company's projections.
Xpeng delivered 34,611 vehicles in June, bringing the first-half delivery total to 197,189 units, a year-on-year increase of 279.01 percent, surpassing its 2024 annual total delivery volume of 190,068 units.
Xpeng aims to double its delivery volume this year compared to 2024.
($1 = RMB 7.1734)
