A new Xpeng P7 car is demonstrated in the Xpeng Motors flagship store in a browsing shopping mall. Xpeng P7 is a person of the two popular designs of Xpeng motors.
Zhang Peng | LightRocket | Getty Illustrations or photos
Chinese electrical carmaker Xpeng teased information about two new automobiles it plans to launch next calendar year, with one positioned to be a competitor to Tesla’s Design Y.
At this time, the company has four motor vehicles on sale — the flagship P7 sedan, a less costly P5 sedan, the G3 sports utility vehicle and a greater G9 SUV that will begin becoming sent to consumers in Oct.
Xpeng has been intense in launching autos as it seems to be to acquire share in China’s fast-rising electric car sector and challenge leaders this kind of as Tesla and Warren Buffett-backed BYD.
Although the organization has not released names or lots of aspects about the two new products slated for 2023, Xpeng President Brian Gu, presented some snippets of information and facts.
A person of the motor vehicles will be a so-identified as B-class car and the other a C-class motor vehicle. The courses refer to the dimension of the car or truck. For context, the company’s P7 sedan is a B-course automobile whilst the G9 SUV is a C-class auto.
Gu reported the B-class car or truck will start in the 1st 50 percent of future yr and is “really likely to concentrate on [an] even larger sized current market phase” than the P7 sedan. He said the car or truck can be regarded as a “potent competitor” to Tesla’s Model Y mid-sized SUV.
The C-course product or service will be introduced in the next half of 2023, Gu extra.
“Offered the top quality and substantial format positioning, the variety could be constrained in terms of contribution,” Gu stated of the C-course model. “But once more, it truly is nonetheless heading to be concentrating on a model-new phase that we did not cover prior to,” he included.
Gu also said the new designs will not be sedans. He did not remark on the form of motor vehicle they would be.
The executive reported the B-course product will be “distinct” to the impending G9 in phrases of sizing and value level.
“So you will find minimum cannibalization from our product positioning and lineup,” Gu stated.
Tesla’s Product Y is continuously one particular of the best-selling electric powered motor vehicles in China. But competitiveness in the world’s largest electrical car or truck market is on the increase with Xpeng and rivals Nio and Li Vehicle seeking to obstacle the U.S. giant.
Particulars of Xpeng’s new cars arrived soon after the organization claimed a wider-than-expected loss in the next quarter of the yr, and weak shipping and delivery steerage for the 3rd quarter that despatched its inventory cratering.
Gu mentioned with the start of the G9 and its new cars up coming yr, the corporation will enter a “growth cycle.”