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2021-07-19

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Chinese electric carmaker Xpeng prices its new sedan at $24,700 undercutting Tesla

GUANGZHOU, China — Chinese electric carmaker Xpeng Inc. has priced its new P5 sedan as low as 160,00

Chinese electric carmaker Xpeng prices its new sedan at $24,700 undercutting Tesla

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There are six different versions of the car with different features, and prices range from 160,000 yuan to 230,000 yuan.\nXpeng's P7 sedan starts from 229,900 yuan after subsidies. Tesla's Model 3 starts from 250,900 yuan in China.\nThe Guangzhou-headquartered company is using Lidar, or light detection and ranging technology, in the P5 to boost some of its semi-autonomous driving features. Lidar uses laser beams to map out the surrounding environment, and measure the distance of objects to help the car determine obstacles in its pathway.\nFour out of the six P5 models come fitted with Lidar and Xpeng's advanced driver-assistancesystem (ADAS) called XPILOT.\nXpeng is one of a number of players in China's electric vehicle industry which spans from established automakers through to start-ups.\nTesla, which has facedweeks of bad press in China, introduced a cheaper version of its Model Y SUV with a shorter driving range this month, which starts at 276,000 yuan after subsidies.\nXpeng delivered 17,398 vehicles in the second quarter of the year, a 439% increase year-over-year. The company will be hoping the P5 can help it to continue to grow sales in a new price segment.\nThis month, Xpeng, which is already listed in New York, carried out a so-calleddual primary listing in Hong Kongand raised 14.02 billion Hong Kong dollars ($1.8 billion).","news_type":1},"isVote":1,"tweetType":1,"viewCount":233,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":4,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}