Latest Update: 2023 XPeng G6 launched in July 2023, with a price tag of $29,010.
XPeng, the renowned auto manufacturer, has made a grand entrance into the Chinese market with the highly anticipated G6 SUV. This formidable vehicle aims to outshine its competitors, including the Tesla Model Y, by offering over 100 advanced features and fast-charging capabilities. XPeng has strategically priced the G6 below the pre-sale estimate to regain momentum and expand its market share.
The G6 directly challenges the Tesla Model Y by offering five distinct variants, comprising two Pro models and three Max models. The pricing structure starts at an attractive RMB 209,900 (€27,000) for the base model, with the other variants priced incrementally higher. Notably, the base price is significantly lower, RMB 15,100 (€1,900) less than the initial pre-sale price of RMB 225,000 announced in June. The G6’s dimensions closely resemble those of the Tesla Model Y, mirroring its length, width, height, and wheelbase.
Currently, Tesla provides three variants of the Model Y in China, priced from RMB 263,900 (€33,800) to RMB 363,900 (€47,000). The Model Y showcased its dominance in May, selling a remarkable 31,054 units and securing the title of China’s best-selling SUV, according to the China Passenger Car Association (CPCA).
XPeng initiated pre-sales of the G6 on June 9, receiving an overwhelming response with over 25,000 orders in just 72 hours. At the launch event, XPeng’s chairman and CEO, He Xiaopeng, proudly announced that the G6 had accumulated more than 35,000 pre-sale orders between June 9 and June 28. With unwavering confidence, He predicted that the G6 would become China’s best-selling electric SUV in the RMB 250,000 price range within two months.
It is worth noting that Chinese consumers have a strong inclination towards larger SUVs. This preference prompted electric vehicle startups like XPeng, Nio, and Li Auto (NASDAQ: LI) to focus on launching SUV models initially. Tesla’s Model Y also witnessed rapid popularity in China after commencing production at its Shanghai plant in 2021.
Built on the state-of-the-art SEPA 2.0 800V platform, the XPeng G6 boasts an array of advanced features, including a 3C battery that supports ultra-fast charging, as well as XPeng’s renowned driver assistance software, XNGP. The model is available in both single-motor rear-wheel drive and dual-motor four-wheel drive versions, offering two range options – 580 km and 755 km for the single-motor variants and a CLTC range of 700 km for the dual-motor variant.
The XPeng G6 sets a new standard in charging speed, capable of reaching 0 to 80 percent charge in as little as 20 minutes, with remarkable energy efficiency of just 13.2 kWh per 100 km. It utilizes battery cells from CALB, a local competitor to CATL, and battery packs manufactured at XPeng’s factory in Wuhan, Hubei.
In terms of performance, the base model G6 accelerates from 0 to 100 km/h in a swift 6.6 seconds, while the top-tier 4WD version accomplishes the same feat in a mere 3.9 seconds.
XPeng proudly announced on June 15 that the City NGP (Navigation Guided Pilot), the urban component of the XNGP system, was fully operational in Beijing, following its success in Guangzhou, Shenzhen, and Shanghai. XPeng has ambitious plans to expand XNGP to 50 more Chinese cities in the second half of 2023, with the aim of reaching 200 cities by next year.
Complying with both Chinese and European five-star safety standards, the G6 is already available for viewing and test drives at XPeng showrooms across China. Deliveries are scheduled to commence in July, with European deliveries slated for the following year.
The introduction of the G6 is poised to be a game-changer for XPeng, revitalizing sales that had seen a decline to 5,218 units in January, with a modest recovery to just over 7,000 units in the past three months. Positioned to dominate China’s new-energy SUV market within the RMB 200,000 to 300,000 price range, the G6 is expected to significantly boost total deliveries for XPeng and outperform industry expectations in the third quarter. During an analyst call on May 24, following the first-quarter earnings announcement, XPeng management projected monthly sales of the G6 to reach 6,000-8,000 units, according to a research note by Deutsche Bank analyst Edison Yu’s team dated May 30.
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