XPeng Inc. has launched its new all-electric hatchback coupe, the Mona M03, in China, with prices ranging from 119,800 yuan to 155,800 yuan (RM73,000 to RM95,000).
The Mona M03 is XPeng’s most affordable model, targeting the budget segment of the world’s largest auto market, which comprises a third of total car sales in China.
Deliveries for the base model will begin in September, while the more advanced M03 Max, equipped with Tesla-like autonomous driving technology, will start after the Chinese New Year in 2025.
The electric hatchback coupe has a design combining AI-driven aesthetics, sportiness, and functionality.
It features a sleek profile, a length of 4,780mm, a wheelbase of 2,815mm, and the largest boot space in its class at 621 litres. It offers world-leading aerodynamics among mass-produced electric hatchbacks with a drag coefficient of Cd 0.194.
It is equipped with advanced smart driving features, including two ADAS options: the standard M03 and the M03 Max.
Both versions come with full-scenario smart parking and over 20 smart hardware components, while the M03 Max offers the full-scenario XNGP ADAS, covering all public roads in China and stands out as the only urban smart driving solution under 200,000 yuan (RM122,000).
XPeng’s expansion into the budget EV market with Mona is a strategic move to gain a competitive edge and achieve better economies of scale.
The company acquired the EV development unit from Didi Global to launch the sub-brand and expects to sell at least 100,000 Mona cars annually.
The Mona M03 will challenge similar models from competitors like Nio’s Onvo L60 and Tesla’s Model Y.
XPeng’s launch event also marked the company’s 10th anniversary and highlighted its advancements in AI and smart driving technology.
At the gala, XPeng introduced its first in-house developed chip, the XPeng Turing, named after computing pioneer Alan Turing.
This 40-core chip is designed specifically for AI models, autonomous vehicles, robots, and eVTOLs, making it the first of its kind globally.
The Turing chip, developed for Level 4 (L4) autonomous driving, offers performance three times greater than current chips and will enhance XPeng’s AI capabilities, supporting the company’s ambition to lead the AI-defined car industry.
The chip’s debut follows a successful tape-out on Aug 23, and it is expected to significantly advance XPeng’s smart driving technologies.
XPeng also unveiled the “AI Hawkeye Visual Solution,” an innovative smart driving perception system that will be first deployed in the XPeng P7+ in Q4 2024.
This system integrates advanced camera technology, enhancing visual perception in low-light and high-contrast conditions, and supports end-to-end AI applications without needing visual data conversion.
The AI Hawkeye solution is set to provide a more consistent and refined smart driving experience across XPeng’s models, including the Mona series.
In addition, XPeng announced that its “Land Carrier” flying car will start pre-sales in Q4 2024, and the second-generation humanoid robot will be revealed at the “1024 XPENG Tech Day.”
XPeng CEO He Xiaopeng spoke of his vision for the next decade, forecasting that only seven mainstream Chinese automotive brands will remain, and XPeng aims for annual sales of one million AI-powered vehicles, with half of those sales coming from overseas markets.
