XPeng shares aggressive pricing for new P5 sedan, undercutting Tesla Model 3 by $14k
Chinese electric automobile manufacturer XPeng Motors has officially announced that it has started accepting pre-orders for the P5 electric sedan, with prices starting at 160,000 Yuan (US$24,600). Founded in 2014 and headquartered in Guangzhou, XPeng believes that the all-electric P5 will pose a tough challenge to Tesla’s widely-popular Model 3, which is available with a starting price tag of 250,900 Yuan (US$38,650) in China.
The XPeng P5 electric sedan was unveiled at the Shanghai Auto Show in April this year. While the EV maker hadn’t revealed pricing for the sedan at the time, it did announce that it would open order books soon.
XPeng has plans to offer half a dozen different variations of the P5 electric sedan soon, with pricing for all of them to remain quite aggressive as the Chinese EV maker wants to snatch a large chunk of the electric car market from rivals like Tesla Motors.
At the recently held 2021 Guangdong-Hong Kong-Macao Greater Bay Area Auto Show, the manufacturer announced that the pricing for its upcoming fully-electric P5 sedan would range between 160,000 Yuan and 230,000 Yuan ($24,600-$35,400). Thus, the P5 will be far more affordable than any version of the Tesla Model 3.
Interested people place a preorder for any of the upcoming models of the P5 sedan, viz. 460E, 460G, 550E, 550G, 550P, and 600P, by spending 5,000 Yuan ($770).
The letters in the model names correspond with the level of intelligence capabilities, with “P” variant being the top tier, followed by “E,” and “G” variants. The corresponding numerals of each variant represent NEDC estimated range of the vehicle. Thus, various variants of the P5 electric sedan will deliver a range of 460-600 km (285-373 miles) between charges.
Two models of the XPeng P5, viz. the 500P and 600P, will come equipped with Lidar technology (Lidar sensors as part of the XPILOT 3.5 hardware). In fact, these two models will be the world’s first mass-produced Lidar smart electric cars.
The “E” variant will come loaded with the XPILOT 3.0 Automatic Driving Assistance System (ADAS), 5-mm wave radars, 12 ultrasonic sensors, one set of sub-meter, more than a dozen auto-assisted driving cameras, and high-precision positioning units but no Lidar. All the remaining variants of the P5 will come loaded with the XPILOT 2.5 ADAS as standard feature.