Chinese electric vehicle (EV) manufacturer Xpeng has reported a strong initial reception for its new electric sedan, the P7+, with pre-orders exceeding 30,000 units just 1 hour and 48 minutes after sales began. The announcement was made on Xpeng’s Weibo account at 9:43 pm Beijing time.
“We believe technology can change the world,” Xpeng wrote on its Weibo post, expressing gratitude to supporters for their enthusiasm and confidence in the company’s innovation. The P7+ was unveiled to European consumers at an event in Paris, France, which began at 7:15 pm Beijing time, while pre-sales simultaneously opened in China with a starting price of RMB 209,800 ($29,600).
Chinese customers who reserve the P7+ by paying a refundable RMB 99 will receive a discount of RMB 3,000 off the final purchase price. The starting price of the P7+ is RMB 22,100 (9.53%) lower than Tesla’s Model 3 in China, which begins at RMB 231,900. However, Xpeng CEO He Xiaopeng noted that the P7+ is designed to compete with higher-end models in the RMB 300,000 price range.
The P7+ is expected to be offered at an even more competitive price during its official launch, following a common pricing trend among Chinese EV makers. Xpeng recently launched the Mona M03 on August 28 at a price of RMB 119,800, achieving over 30,000 non-refundable orders within the first 48 hours.
The P7+ is a mid-to-large-size electric sedan, measuring 5,056 mm in length, 1,937 mm in width, and 1,512 mm in height, with a 3,000 mm wheelbase. This makes it larger than Xpeng’s P7i sedan and positions it as the company’s latest effort in achieving significant cost reductions in line with its technology cost reduction target of 25%. Xpeng plans to begin delivering the P7+ in the fourth quarter of this year.