XPeng Launches New LFP-Battery Powered Vehicles, Expanding Product Offering for Diversified Customer Needs

Rhea-AI Summary

XPeng Inc. (NYSE: XPEV) has launched three new models powered by lithium iron phosphate (LFP) batteries, targeting the growing Chinese smart electric vehicle market. The new P7 Standard Range Smart and Premium models, along with the G3 460c, are now available for order, with prices starting at RMB 229,900. These models aim to meet consumers' needs for shorter range city driving and enhanced autonomous features, leveraging XPeng’s XPILOT 2.5+ and 3.0 technology. Deliveries are expected to commence in April and May 2021.

Positive

• Launch of three new LFP-battery models enhances product portfolio.
• P7 Standard Range models offer advanced autonomous driving features at competitive prices.
• Addresses consumer demand for shorter city driving ranges and smarter vehicle technology.

Negative

• None.

XPeng Inc. (“XPeng” or the “Company”, NYSE: XPEV), a leading Chinese smart electric vehicle (“Smart EV”) company, today expanded its product offering by launching three new vehicle versions powered by lithium iron phosphate (LFP) batteries for the Chinese market. The three new LFP-battery powered cars, including the rear-wheel drive (RWD) P7 Standard Range Smart and Premium models, and the G3 460c model, are now available to order in China.

XPeng P7 smart EV sedan (Photo: Business Wire)

The new P7 Standard Range models, based on the existing RWD Long Range models, are powered by a IP68 waterproofed and dustproofed LFP battery to deliver a range of NEDC 480km, and come equipped with the XPILOT 2.5+ and XPILOT 3.0 autonomous driving assistance systems for the Smart and Premium versions respectively. They will be supported by the latest Xmart OS intelligent in-car operating system.

Retail prices (post subsidies) for the new Smart and Premium P7 are RMB 229,900 and RMB 239,900, respectively. Customer deliveries are expected in May 2021.

Shorter distance city driving is one of the main needs for a significant number of consumers in China. Vehicles with smarter features, especially more advanced autonomous driving functions with an intelligent cockpit, and a mid-level driving range are more appealing to these customers. The expanded product portfolio enables XPeng to better address these diversified customer needs in China.

With the new LFP battery versions, XPeng’s product portfolio not only offers a wider spectrum of driving range options for customers but also addresses their demands for superior autonomous driving features at similar price points.

For instance, at the same price as the existing entry level P7 RWD Long Range model (229,900 RMB), customers can now purchase the new P7 RWD Standard Range Smart model with added autonomous drive functionality, supported by higher spec XPILOT 2.5+ hardware (including System-on-a-Chip (SoC); high-definition millimeter-wave radar; and autonomous driving high perception camera).

XPeng also launched a new G3 460c version with LFP-powered batteries. Based on the original G3 460i, the new model has the same driving range of NEDC 460km, with low-drag wheels at retail price of RMB149,800 (post subsidies). Customer deliveries are expected to start in April 2021.

Comparison between the new RWD Standard Range P7 and the existing RWD Long Range P7

	P7 RWD Standard Range (New w/ LFP battery)		P7 RWD Long Range (Existing w/ NCM battery)
	Smart	Premium	Standard	Smart			Premium
Price RMB	229,900	239,900	229,900	249,900			259,900
XPILOT Hardware System	XPILOT 2.5+	XPILOT 3.0	-	XPILOT2.5+			XPILOT 3.0
NEDC range km	480		586
Battery	LFP Lithium Iron Phosphate		NCM (Lithium Nickel Manganese Cobalt Oxide)
Battery capacity（kWh）	60.2		70.8
Maximum power and torque	196kW/390Nm
0-100km/h acceleration time	>=6.7 seconds		>=6.7 seconds
DC fast charging time （30% to 80%）	>=30min		>=28min
AC charging time （30% to 80%）	>=5h		>=5.7h
Curb weight（Kg）	1920		1865		1890	1890

Configurations of the new RWD Standard Range P7:

		P7 RWD Standard Range Smart	P7 RWD Standard Range Premium
Nationwide Retail Price (Post comprehensive subsidies RMB)		229,900	239,900
Performance	Suspension System	Front Double Wishbone Independent Suspension / Rear Multi-link Independent Suspension
	Maximum Power Output / Maximum Torque	196kW/390N·m
	NEDC Range	480km
	0-100km/h Acceleration Time	>=6.7s
Intelligence	Xmart OS intelligent in-car operation system	Standard configuration
	XPILOT Autonomous Driving Assistance System (Hardware)	XPILOT 2.5+	XPILOT 3.0
	XPILOT 3.0 Software & OTA service*	---	*Service to be purchased
	Intelligent music cockpit package （Dynaudio sounds system, Nappa leather seats）	Optional

* Over-the-air upgrades to release new functions and optimized features

About Xpeng

Xpeng is a leading Chinese smart electric vehicle company that designs, develops, manufactures, and markets Smart EVs that appeal to the large and growing base of technology-savvy middle-class consumers in China. Its mission is to drive Smart EV transformation with technology and data, shaping the mobility experience of the future. In order to optimize its customers’ mobility experience, Xpeng develops in-house its full-stack autonomous driving technology and in-car intelligent operating system, as well as core vehicle systems including powertrain and the electrification/electronic architecture. Xpeng is headquartered in Guangzhou, China, with offices in Beijing, Shanghai, Silicon Valley and San Diego. The Company’s Smart EVs are manufactured at plants in Zhaoqing and Zhengzhou, located in Guangdong and Henan provinces, respectively. For more information, please visit https://en.xiaopeng.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210303005858/en/

FAQ

What new models did XPeng launch in March 2021?

XPeng launched three new models: P7 Standard Range Smart, P7 Standard Range Premium, and G3 460c.

What is the price of the new XPeng P7 models?

The retail prices for the new P7 Smart and Premium models are RMB 229,900 and RMB 239,900, respectively.

When are the new XPeng vehicles expected to be delivered?

Customer deliveries for the new models are expected to start in April and May 2021.

What type of battery do the new XPeng models use?

The new XPeng models are powered by lithium iron phosphate (LFP) batteries.

What is the range of the new XPeng P7 Standard Range models?

The new P7 Standard Range models have an NEDC range of approximately 480 km.