- Xpeng aims to achieve a steady monthly delivery volume of over 40,000 units starting in September following the start of deliveries for the all-new P7.
- Xpeng expects the all-new P7's sales to rank among the top three in the segment of pure electric sedans priced under RMB 300,000.
Xpeng (NYSE: XPEV) will launch its next-generation P7 electric sedan in China in two days, following the start of pre-sales earlier this month.
The all-new Xpeng P7 will officially go on sale on August 27, with test drives already available, the electric vehicle (EV) maker announced today.
Yesterday, Xpeng announced that the all-new P7 will begin deliveries immediately after its launch, with the first batch of vehicles for delivery already shipped.
Xpeng debuted the new P7 on August 6 and began pre-sales without giving pre-sales prices.
Customers who pay RMB 99 ($14) to pre-order the new P7 before its official launch will receive a RMB 3,000 discount when paying for the vehicle.
Shortly after its debut event, Xpeng announced on Weibo that the model received over 10,000 pre-orders within 6 minutes and 37 seconds of pre-sales beginning.
Xpeng expects the all-new P7 to rank among the top three in sales for pure electric sedans priced under RMB 300,000, He Xiaopeng, the company's chairman and CEO, said during an earnings call on August 19.
With the deliveries of the all-new P7, Xpeng aims to achieve a steady monthly delivery volume exceeding 40,000 units starting in September, Mr. He said.
Starting with the all-new P7, Xpeng will pursue a product philosophy prioritizing technology and aesthetics, allocating more resources and emphasis to the design team, he said.
The first-generation P7 made its debut at the Shanghai auto show in April 2019 and officially launched in April 2020. Deliveries began in the middle of 2020.
As Xpeng's first sedan, the P7's fashionable exterior design helped it achieve strong performance after its launch.
The P7 delivered 60,569 units in 2021 and 59,066 units in 2022, contributing 61.71 percent and 48.91 percent of Xpeng's annual delivery volume, respectively, according to data compiled by CnEVPost.
Xpeng aims to attract younger consumers with the new P7's stylish design and sporty features.
Ten days ago, the company conducted a 24-hour endurance test on the new P7, driving continuously for 3,961 kilometers, surpassing the 3,944 kilometers achieved by Xiaomi's YU7 SUV in late June.
($1 = RMB 7.1663)
