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Tesla’s Chinese rival Xpeng announced the launch of the P7 sedan and G9 SUV in Europe following last year’s dismal China sales.
Chinese electric vehicle (EV) startup Xpeng has unveiled two of its flagship vehicles in Europe. The launch is part of a broader international push by the Guangdong-based company as it looks to increase its brand’s global visibility.
On Friday, Xpeng launched the P7 sedan and G9 sport utility vehicle (SUV) in Norway, Denmark, Sweden and the Netherlands. The Chinese EV maker prices the P7 sedan below Tesla’s US rival EV (NASDAQ:TSLA) in these European countries. Xpeng is determined to reduce Tesla’s usual discount below normal prices on its cars. US electric vehicle manufacturers have lowered prices globally to boost sales.
Although Xpeng president Brian Gu called the company’s European launch an “important milestone”, the Chinese EV maker faces stiff competition in the region. Apart from Tesla, other Western auto giants and even Chinese automakers see Europe as a viable market for electric vehicles. The future of electric vehicles is getting stronger every day as more and more businesses shift from fossil fuels to renewable energy.
Xpeng also looks set to challenge Tesla’s dominance in its home state of China, although it still lags behind the Texas-based EV maker in terms of deliveries. Following a challenging year in China which was marked by falling demand, Xpeng is turning its attention to international market expansion.
Closer Look at Xpeng Vehicle Scheduled for European Launch
Xpeng claims that its P7 sedan, priced at 49,990 euros ($54,917) in the Netherlands, can cover 576 kilometers on a single charge. For comparison, Tesla’s Model 3 Long Range, which reportedly travels 602 kilometers on a single charge, costs from 52,990 euros in the Netherlands.
However, the G9 Xpeng SUV has a higher starting price than the Tesla Model Y which is competing in the same country. The G9 SUV reportedly costs 57,990 euros in the Netherlands and travels 570 kilometers on a single charge. Meanwhile, Tesla’s Model Y Long Range has a slightly lower asking price of 53,990 euros. This mid-size full-electric SUV from the American EV manufacturer can travel up to 533 kilometers on a single charge.
The EV Manufacturing Race Heats Up
Another prominent auto manufacturing company that is betting its productive future on electric vehicles is Volkswagen. Last July, the German giant reported that prospects for its EVs remained good, and expected to reduce delivery times.
At the time, Volkswagen chief executive Herbert Diess revealed that the company had “very good order intake in Asia”. Diess also said that Volkswagen would increase production starting with “five assembly plants”.
Meanwhile, Xpeng’s local rival, Nio, will begin delivering large batches of electric vehicles to Norway in late 2021. Nio views this as a major opportunity as more than half of the new cars sold in Norway in 2020 will be battery-powered electric cars. vehicle.
As global demand for electric vehicles increases, some manufacturers continue to grapple with supply chain constraints and semiconductor shortages.
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Tolu is a cryptocurrency and blockchain enthusiast based in Lagos. He loves to unravel crypto stories to the basics so that anyone everywhere can understand them without too much background knowledge. When he’s not deep into crypto stories, Tolu enjoys music, loves singing, and is an avid film lover.
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