Xpeng says new G9 SUV could become the EV-maker’s best-selling car

Xpeng confirmed off its forthcoming G9 SUV at the Chengdu vehicle show in August 2022.

China Information Service | China Information Provider | Getty Photographs

BEIJING — Chinese electrical car get started-up Xpeng’s newest model will most likely promote superior than its most preferred automobile to day, in accordance to Brian Gu, the company’s president and honorary vice chairman.

The organization formally launched its G9 SUV on Wednesday. The vehicle has been slated to commence deliveries in October.

“We imagine the quantity of G9 future year will exceed what we have attained for P7, which can make it just one of our leading-marketing autos,” Gu said in an interview with CNBC’s Eunice Yoon this 7 days.

The P7 was Xpeng’s initial sedan, launched in May 2020, which promptly outsold the firm’s present G3 SUV that launched in December 2018. The P7 rated 10th amid all new electrical power passenger vehicles — excluding SUVs — marketed in China during the to start with eight months of this 12 months, according to the China Passenger Car Association.

Additional than 123,000 P7 automobiles have been sent as of the conclude of August — approximately twice as quite a few as the cumulative supply of about 67,000 G3s, according to CNBC calculations of Xpeng info.

Final year, Xpeng began deliveries of a further sedan, the P5, which has notched cumulative deliveries of extra than 37,000 cars as of the stop of August, the information investigation confirmed.

The G9 comes with Xpeng’s most recent assisted driving technique, which Gu stated will conduct even much better than in a prior model’s simply because the new SUV includes higher-electrical power Nvidia Orin chips.

With just 5 minutes of charging at an Xpeng station, he stated the new car can add 200 kilometers of driving variety.

Nevertheless, rival Chinese electrical automobile start out-ups Nio and Li Car also have new SUVs rolling out to buyers this fall.

The current market is now “pretty competitive,” Gu mentioned. “We want to come up with better and cooler products and solutions to resume that expansion.”

Foot traffic is significantly less than fifty percent of what we have witnessed prior to the summer season.

Store foot traffic drops

But Gu said that considering that summer months, over-all electric auto gross sales have not been as sturdy as they have been at the commencing of the year. He pointed to a variety of elements, such as anticipation of new merchandise, Covid-induced keep closures and hesitant consumers.

“Foot traffic is significantly less than fifty percent of what we’ve observed right before the summer months,” he stated.

Read through additional about electric powered automobiles from CNBC Professional

As others at his firm and in the industry have mentioned, Gu said Xpeng was not impacted by the most current U.S. limits on Nvidia income to Chinese firms.

“It does not use to us mainly because we will not use that variety of chips,” Gu reiterated.

“I feel definitely, the cloud or knowledge centre companions that we work with, they want to imagine about how to continue on to protected these types of capabilities,” he claimed. “It is really not some thing that we are apprehensive about, but obviously we will need to make sure that we have these abilities provided to us.”

— CNBC’s Arjun Kharpal contributed to this report.