The P5 pricing is yet to be released but should come out at the Shanghai Auto Show later this week.
According to sources within the company who spoke to CNBC, the P5 will be cheaper than the current P7. The same source confirmed that production would roll out in the third or fourth quarter of 2021.
The P5 will be equipped with a lidar system. This system will use lasers to measure the distance to surrounding objects and create a 3D representation to avoid collisions. Xpeng claims the lidar system will help prevent crashes, even under low-light conditions.
Xpeng joins a crowded field of EV companies jumping into space. This space includes Tesla, Nio, Li Auto, Baidu and even Xiaomi. The competition is fierce, and Xpeng looks to differentiate itself with its native tech and competitive pricing.
— XPeng Motors (@XPengMotors) April 14, 2021