Xpeng

Xpeng launched the P7i in China on March 10, and on November 6 rolled out two lower-priced versions of the model with LFP battery packs.

For the week of November 27 to December 3, BYD's vehicle insurance registrations in China were 56,200 units.

Xpeng's year-to-date deliveries reached 121,486 units, up 10.98 percent year-on-year, surpassing last year's full-year deliveries.

From November 1 to November 26, Nio was 12,700, Xpeng 14,800, Li Auto 34,800, Tesla 56,000 and BYD 178,000 units.

Between November 1 and 19, Li Auto had 25,400 insurance registrations in China, Nio had 9,400, Xpeng had 10,400, Tesla had 39,300 and BYD had 129,700 units.

Xpeng X9 starts at RMB 388,000 for pre-sales, with deliveries to begin in January, while Li Auto's Li Mega will be priced between RMB 500,000 and 600,000.

Xpeng is confident of achieving rapid volume growth and a significant rebound in gross margin in the fourth quarter.

"Promotional activity appeared more aggressive than anticipated," Deutsche Bank said.

Xpeng guided for fourth-quarter deliveries in the range of 59,500 to 63,500 units, meaning it expects to deliver a total of 39,498 to 43,498 vehicles in November and December.

The Xpeng X9 will compete head-to-head with the Li Mega, a Li Auto MPV that will also be unveiled and go on pre-sale on November 17, the first day of the Guangzhou auto show.