PC: Clayton News Daily
On September 21, a Chinese competitor to Tesla will live-stream the introduction of its new SUV.
Tesla, Inc. (TSLA) Get Tesla Inc. Report is actively producing and marketing its Model S and Model 3 sedans, as well as its Model Y and Model X SUVs. Tesla is the market leader in electric vehicle production and deliveries.
With 563,987 EVs made and 545,884 delivered in the first half of the year, the company is well on its way to producing and delivering over 1 million EVs this year. With 323,519 units sold in the first half, Chinese company BYD was its closest opponent.
Other Tesla competitors in China are not manufacturing or delivering near the levels of the market leader. Nio (NIO), based in Shanghai, Purchase one Class A American depositary share of NIO Inc. Report shipped 227,949 EVs in the first seven months of 2022, while XPeng, a manufacturer of EVs in Guangzhou, China, shipped 90,085 in the first eight months of the year—a 96% rise from the same period last year. With the introduction of a new product, the corporation hopes to increase that number.
Arrival of New SUV at Launch Event
On September 21 at 7 a.m. Eastern time, XPeng will reveal its fourth production model, the G9 SUV, in a live launch event that will be broadcast on its website, Meta Platform’s (META) – Get Meta Platforms Inc. Report. Twitter (TWTR) and Facebook – Get Twitter Inc. Report
According to a business statement, XPeng claims that the G9 SUV will be the fastest-charging mass-produced EV in the world using China’s first 800 V Silicon Carbide. The car will have the first full-scenario ADAS in the industry, and Xpeng’s exclusive Xopera media system, designed to deliver an immersive 5D experience, is featured in the premium cabin.
In the first 24 hours after reservations began in August, Xpeng got over 20,000 pre-orders, the business reported. Although the G9’s sale pricing is not listed on the XPeng website, some online publications claim that the EV will be sold for less than $74,000.
Similar to Tesla’s Autopilot technology, the G9 has a semi-autonomous driving option. The car is anticipated to be a fierce rival to Tesla’s Model Y.
After the business unveiled the G9 in November, CEO He Xiaopeng remarked, “Our G9 flagship smart SUV marks a new level of sophistication with a global perspective, and is a vital part of our investigation of smarter, safer, greener, and sustainable mobility.”
SUV Prices are Extremely Varying
Given that the Model Y Performance starts at $62,190 and the Model Y Long Range SUV starts at $58,190, XPeng would need to cut the price of the G9. The Model X Plaid costs $130,590, while the Model X SUV is more expensive at $112,590.
However, given that the completely electric iX xDrive50 SUV from XPeng costs $84,100, it does well in the pricing comparison with BMW.
However, none of those SUVs come close to the most expensive SUVs available on the global market. At $389,000, the Ferrari Purosangue is the most expensive SUV in the world (390,000 euros). Aston Martin DBX ($176,900), Bentley Bentayga ($166,425), Range Rover SVAutobiography Dynamic Black Edition ($211,000), Lamborghini Urus ($222,004), Rolls-Royce Cullinan ($330,000), and 2021 Porsche Panamera Turbo S Sport Turismo ($195,000.)
Therefore, compared to any of the high-end European six-figure luxury SUVs, a Tesla Model X Plaid, Model X, either Model Y or the BMW iX xDrive50 SUX, and yes, the XPeng G9, would be a great deal.