Xpeng releases mass-market EV with basic driver-assist for less than $20,000

Published On Aug 27, 2024, 10:30 AM

Xpeng has announced the launch of its mass-market electric vehicle (EV), the Mona M03, with a starting price of approximately $16,812. This model features basic driver assist capabilities and a driving range of 320 miles. In comparison, Tesla's cheapest model in China, the Model 3, costs about $33,097 after a recent price cut. Xpeng's offering is aimed particularly at young consumers and is part of their broader strategy to compete against established brands like Tesla. Presales started on August 8, with deliveries expected to begin shortly, and a more advanced version of the vehicle will follow in early 2025. Xpeng is leveraging technology acquired from ride-hailing company Didi to enhance the vehicle's assist features.