Xpeng has signed a distributor agreement with International Motors Ltd and its first model to launch in the UK market will be the G6 -- a Tesla Model Y competitor.
Xpeng (NYSE: XPEV) has signed a deal to enter the UK automotive market as it continues to expand its international presence.
The Chinese electric vehicle (EV) maker announced today that it has signed a distributor agreement with IML (International Motors Ltd), signaling its official entry into the UK market.
Xpeng's first model in the UK market will be the G6, an SUV (sport utility vehicle) that is expected to go on sale there early next year, the company said.
The UK market is considered a key part of the entry into Europe for Chinese cars, where IML, a leading European car dealer group with a strong reputation in the UK, Ireland and northern Europe, has specialized in automotive operations for 50 years, according to a press release.
Xpeng aims to revolutionize the driving experience for UK customers in the near future, making it safer, smarter, more sustainable and more enjoyable, the company said.
In July, the EV maker brought the G6 to the Goodwood Festival of Speed 2024, marking the model's UK debut.
During the Festival of Speed, potential UK customers were able to find out more about Xpeng, preview the G6 and see it in action.
The G6's debut at Goodwood was one of the fruits of Xpeng's partnership with IML, according to the press release from the Chinese EV maker today.
Since deliveries began in Norway in late 2020, Xpeng has launched several models in multiple European countries, including Denmark, Sweden, the Netherlands, Belgium, Luxembourg, Germany, France, Iceland, Spain and Portugal.
In August, Xpeng announced its goal to become a globally oriented artificial intelligence (AI) car company.
Xpeng aims to have a presence in more than 60 global markets by 2025, with half of its sales coming from overseas markets in the future, according to the company.
The G6 was launched in China on June 29, 2023, with deliveries beginning in early July last year.
The SUV is a competitor to Tesla's (NASDAQ: TSLA) Model Y, a battery electric vehicle (BEV) that is a global hot seller.
The G6 currently has a starting price of RMB 199,900 ($27,640) in China, lower than the RMB 249,900 of the locally produced Model Y.
On November 5, Xpeng said the G6 was already matching Tesla's monthly deliveries in Singapore, one month after starting local deliveries.
On November 9, Xpeng opened its first flagship showroom in Nepal's capital city of Kathmandu, where it launched the G6 with local distributor CG Motors, delivering 25 of the model to its first local customers.
Xpeng delivered 23,917 vehicles in October, up 19.57 percent year-on-year and up 12.01 percent from September, according to data released on November 1.
The G6 delivered 7,789 vehicles in October, down 10.89 percent year-on-year but up 31.62 percent from September, contributing 32.57 percent of Xpeng's monthly deliveries, according to data compiled by CnEVPost.
In the January-October period, Xpeng delivered 122,478 vehicles, up 20.73 percent year-on-year. The G6 delivered 40,754 vehicles in the January-October period, contributing 33.27 percent of the total.
($1 = RMB 7.2324)
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