TLDR
– Chinese electric vehicle (EV) company Xpeng claims that its newly launched X9 model could be a “game changer” for the industry
– The X9 large 7-seater EV is built on Xpeng’s SEPA2.0 architecture and is targeted at the Chinese market. It is priced between 359,800 yuan to 419,800 yuan ($50,360 to $58,760).
Xpeng Vice Chairman and Co-President Brian Gu stated that the X9 could become the top seller in its category due to its innovative technology, design, superior handling, and industry-leading smart driving technology. He believes that the X9 will contribute to the company’s growth and market share expansion.
Xpeng faces stiff competition in the Chinese EV market, with competitors such as Nio, BYD, and Li Auto. Xpeng missed its target of delivering 200,000 vehicles in 2023, delivering 141,601 units instead. However, Gu remains optimistic about the EV market in 2024 and expects strong growth and momentum. The company plans to roll out driver-assist technology in China by the end of 2023 and in Europe by the end of 2024. Xpeng has also entered into a cooperation framework agreement with Guangdong Huitian to develop and sell flying vehicles.
According to TrendForce, China’s new energy vehicle penetration rate exceeded 40% for the first time in November 2023, and continued growth is anticipated in 2024. Gu believes that the industry will continue to grow due to technological advancements, product launches, and the shift towards new energy vehicles. However, he emphasizes the importance of differentiation and cost-competitiveness to remain competitive in the market.
