Xpeng has announced plans to launch two new EVs on February 3rd, with details to be revealed next week. The teaser image appears to show the G9 crossover and the P7 sedan, with the latter offering a high-performance variant with a dual-motor all-wheel-drive system, allowing a 0-62 mph (0-100 km/h) in 4.5 seconds, and a driving range of up to 470 km (292 miles) in the WLTP cycle.
The company has also previously announced plans to open four delivery and service centers in key European markets later this year, starting with Lørenskog, Norway next month. The Badhoevedorp center in the Netherlands is set to be completed in February and will serve as a training facility for technicians and staff, as well as a spare parts hub to reduce wait times for European customers.
We're launching our two new EVs in Europe on February 3, 2023.
Stay tuned for more details 😎#ReadyForElectric pic.twitter.com/i078L9nl5R— XPENG (@XPengMotors) January 25, 2023
Xpeng reduced EV prices last week, following in the footsteps of Tesla, who had recently made similar cuts in China. Initially, investors viewed XPeng’s move as a sign of desperation, but it seems that the price reductions have had a positive impact on demand among Chinese buyers.
While the price reductions may have reduced Tesla’s profit margins, they did not lead to a loss in the company’s bottom line, as Tesla is already a highly profitable company. On the other hand, XPeng’s financial situation is quite different, and the price decreases will likely have a positive effect on the company’s bottom line.
On February 1st, XPeng will announce its January sales results, and investors will be eagerly watching to see if there has been a significant increase in sales compared to the 11,292 cars shipped in December. The success of XPeng’s latest strategy will become clearer once these results are released.
XPeng delivered 22,204 vehicles during the fourth quarter of 2022. As of December 31, 2022, the company had delivered 120,757 vehicles, a 23% year-over-year increase.
