XPeng is gearing up to launch its latest offering, the G6 SUV. The company aims to directly compete with Tesla’s Model Y, listed on NASDAQ as TSLA. XPeng announced on Weibo that pre-sales for the G6 will commence on June 9, although specific details were not disclosed.
The introduction of the G6 follows XPeng’s successful pre-sale of the P5 sedan. As per their customary approach, XPeng intends to unveil the pre-sale price of the G6 next week, with the official pricing slated for the end of June.
During an analyst call on May 24, following the announcement of their first-quarter earnings, XPeng’s management revealed that the G6 will officially launch in June, with volume deliveries scheduled to commence in July. Moreover, the company stated that production capacity for the G6 will increase rapidly.
Positioned within the Chinese new energy SUV market, the G6 is projected to be a highly sought-after vehicle with a price range between 200,000 yuan ($28,150) and 300,000 yuan. XPeng anticipates that the G6’s popularity will significantly surpass that of their previous model, the P7i, leading to substantial growth in deliveries during the third quarter.
Deutsche Bank analyst Edison Yu’s team expressed their perspective on XPeng’s strategy, stating that the G6 is a critical endeavor for the company, given the challenges they face with margins and cash burn following the first-quarter results. They further added that XPeng management’s remarks during the analyst call suggest an expectation to sell 6,000-8,000 units of the G6 per month.
XPeng introduced the SEPA (Smart Electric Platform Architecture) 2.0 at a technical conference in Shanghai on April 16, highlighting that the G6 would be the first model constructed on this new framework. Subsequently, on April 18, XPeng officially unveiled the G6 at the Shanghai auto show, positioning it as the pinnacle of automotive technology before full self-driving capabilities are realized.
The G6 is built on an 800 V high-voltage platform, enabling rapid charging times of as little as 10 minutes for a 300-kilometer range. XPeng’s flagship G9 SUV also utilizes this 800 V-based platform.
Acknowledging the Tesla Model Y as its primary competitor, XPeng hopes to attract consumers with the G6’s sleek design and updated interior. The G6 is classified as an all-electric midsize SUV, with dimensions specified in a regulatory filing from March: a length of 4,753 mm, width of 1,920 mm, height of 1,650 mm, and a wheelbase of 2,890 mm. In comparison, the Tesla Model Y has similar measurements, with a length of 4,750 mm, width of 1,921 mm, height of 1,624 mm, and a wheelbase of 2,890 mm.
