Xpeng

EV sales generally surprised to the upside in August as new product cycles continue to garner robust demand, according to Edison Yu's team.

After three years of operations in Europe, Xpeng is now gearing up to enter one of the world's most competitive auto markets, the Chinese EV maker said.

Xpeng delivered 13,690 vehicles in August, a new high since June 2022. That was up 42.93 percent year-on-year and 24.36 percent from July.

Between September 1 and September 30, customers can get a combined discount of RMB 21,000 to RMB 24,000 on all P7i models.

Xpeng aims to have 3,000 self-operated stations with ultra-fast charging capability by 2025.

The Xpeng X9 will be launched at the end of the fourth quarter and will likely make a limited contribution to this year's deliveries, the EV maker's management said earlier this month.

Between August 1 and August 27, Nio vehicles saw 16,000 insurance registrations in China, Xpeng at 11,700, Li Auto at 29,100 and Tesla at 56,400 units.

A total of 29 percent of Xpeng G6 owners compared the Tesla Model Y and 9 percent compared the Nio ES6 when purchasing the car.

The key to the deal is that Xpeng can get more sales by tapping into Didi's massive network of 19 million drivers in China, Deutsche Bank said.

The Mona project will be the start of a second, or even third, brand for Xpeng, which will be predominantly aimed at general customers but also corporate customers, Xpeng's CEO said.