- Xpeng has sent a memo to its suppliers requesting materials for an additional 5,000 X9 EREVs by year-end, according to a local media report.
- The move aims to address robust order demand following the X9 EREV's launch and ensure uninterrupted delivery schedules, a supply chain source said.
Xpeng (NYSE: XPEV, HKG: 9868) appears to be gaining solid initial acceptance for its extended-range X9 MPV (multi-purpose vehicle), a new report suggests.
The electric vehicle (EV) maker has sent a memo to its suppliers requesting additional materials for 5,000 X9 extended-range electric vehicles (EREVs) by year-end, according to a report today by local media outlet Wallstreetcn.
The move aims to address robust order demand following the X9 EREV's launch and ensure uninterrupted delivery schedules, the report cited a supply chain source as saying.
Xpeng's rapid production ramp-up reflects strong expectations for the X9 EREV's market performance, an industry insider told the outlet.
Xpeng (NYSE: XPEV, HKG: 9868) launched the extended-range X9, its first EREV model, on November 20 with a starting price of RMB 309,800 ($43,600). This represents a reduction of RMB 40,200, or 11.49 percent, from the RMB 350,000 starting price announced during the pre-sales phase.
The starting price is also significantly lower than the RMB 359,800 starting price for the MPV's battery electric vehicle (BEV) version, reflecting the company's ambitions for its first EREV model.
X9 EREV orders surpassed the MPV's previous single-day record within the first hour of launch, Xpeng announced on the model's second day of availability.
On November 21, Xpeng celebrated the rollout of its one-millionth vehicle, an X9 EREV.
Xpeng pledged to cover potential vehicle purchase tax benefit losses for customers buying the X9 EREV by December 31, mirroring domestic peer Nio Inc's (NYSE: NIO, HKG: 9866) approach for its third-generation ES8.
In 2024-2025, China continues to exempt new energy vehicles (NEVs) from purchase tax, with a maximum tax exemption of RMB 30,000 per vehicle.
In 2026-2027, China's NEV purchase tax will be levied at half the standard rate of 10 percent -- effectively a 5 percent tax rate -- with a maximum tax reduction of RMB 15,000 per vehicle.
($1 = RMB 7.1067)
