XPeng undercuts Tesla in China with P5 electric sedan pricing

Chinese-based XPeng released the pricing of their new P5 Sedan days after Tesla released a cheaper version of the Model Y. The P5 pricing comes in at ¥160,000 ($31,400 CAD) and significantly undercuts Tesla in the already competitive Chinese market.

The cheaper Tesla Model Y, which has a shorter driving range, starts at ¥276,000 ($54,200 CAD). While the Tesla Model 3 starts at ¥250,900 ($49,300 CAD) in China.

The P5 is XPeng’s third EV and will have six different versions of the vehicle. Prices range from ¥160,000 to ¥230,000.

The base vehicle does not come with many bells and whistles, but four models come outfitted with semi-autonomous driving abilities. To make that happen, the company used Lidar, and the companies own advanced driver-assistance system called XPILOT.

XPeng delivered over 17,000 vehicles in the second quarter of the year. As the automaker continues to fine-tune production, the 439% year-over-year increase is nothing short of spectacular. The company hopes that the P5 can keep the momentum going at a new price segment in the market.

Earlier this month, XPeng carried out a dual primary listing in Hong Kong. The venture allowed the company to raise $1.8 billion USD to assist with production and design costs.

Previous Article

GM confirms third electric pickup truck

Next Article

Celebrate the opening of the Hope Supercharger with the Tesla Owners Club of B.C. [July 24, 2021]

You might be interested in …