Automaker Xpeng Inc is a Chinese company that designs, develops, manufactures and sells smart electric vehicles. In the Chinese market, Xpeng's target group is the mid-range and high-end segment. As a manufacturer aiming to produce technologies focused on autonomous driving, Xpeng ranks among Tesla's competitors and the latest expansion into the European market has certainly not pleased Musk.
China's Xpeng continues its aggressive expansion abroad, as it unveiled two of its flagship models in Europe most recently. Danish, Norwegian, Dutch and Swedish customers can look forward to ordering the updated P7 sedan and G9 sport-utility vehicle (SUV). Despite the automaker's efforts, Tesla currently still has a significant lead over Xpeng in China when it comes to deliveries. Xpeng could thus become a direct competitor to Tesla in these new markets. Overall, Xpeng has lower prices for its P7 sedan than Tesla in Denmark, Norway, the Netherlands and Sweden. Pricing for the P7 sedan starts at €49,990 in the Netherlands and can travel 576 km on a single charge. The news also caught the attention of electric car fans on Twitter.
Lower prices clearly remain an advantage for Xpeng, and they don't plan to abandon their strategy in the European market either. Following Tesla's price cuts, Xpeng reduced the prices of some of its models by up to 13% on 17 January to make them more affordable for Chinese customers. Chinese electric cars are therefore sure to be in demand in Europe as well, as high inflation is pushing consumers to save money on a daily basis.
