This Chinese $30K Tesla Model 3 Rival Secured 10,000 Orders In Seven Minutes
Xpeng Inc.'s P7 all-electric sedan, priced at approximately $30,730, secured over 10,000 orders within seven minutes of its launch in China. The P7 offers two battery options with ranges of 436 miles and 510 miles, and comes in four trim levels. Additionally, Xpeng announced a software update for its Human-Machine Co-Driving system. This launch coincides with Tesla's introduction of new models in China, including the Model Y L and Model 3+.
The Xpeng Inc. XPEV P7 all-electric sedan, a potential rival for Tesla Inc.'s TSLA Model 3, secured over 10,000 orders in seven minutes.
Xpeng Launches P7 Sedan In China
The company launched the P7 Sedan with a price of RMB 219,800 or $30,730 for the entry-level trim, helping the car secure over 10,000 orders in seven minutes, CarNewsChina reported on Thursday, citing a statement from Xpeng spokespersons.
The car comes with a single-motor RWD and a dual-motor AWD system. Xpeng offers two battery options for the sedan: a 74.9 kWh LFP battery with a CLTC range of 436 miles and a 92.2 kWh ternary NMC battery option with a claimed CLTC range of approximately 510 miles.
Xpeng offers the car in four trim levels, with the range-topping 750 AWD Scissor Doors trim available for a retail price of $42,190, the report said.
Xpeng's Software Update Makes Human-Machine Co-Driving Standard
The news comes as Xpeng recently announced a software update for the European market, making the company's Human-Machine Co-Driving system standard. Xpeng claims the update helps Lane Centering Control remain active, even when the driver assumes control.
Tesla's Model Y L, Model 3+
The news comes as Tesla launched two new models for the Chinese Market, the first being a six-seater version of the Model Y SUV, dubbed the Model Y L, which retails for $47,000 in China.
Tesla also launched the Model 3+ trim, a long-range version of the Model 3 sedan in the market, which boasts a range of over 500 miles on a single charge, firmly pitting it against Xpeng's P7.
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