XPeng Motors Increases Prices as NEV Subsidies Drop

XPeng
(Source: XPeng)

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Starting in 2022, the subsidy for new energy vehicles will decline by 30% compared to that offered in 2021. On Monday, XPeng Motors announced the latest subsidy prices of all models, all of which increased slightly.

With the latest subsidy, its flagship sedan P7 is priced between 224,200 and 409,900 yuan, up by 4,300 to 5,900 yuan. The new P5 models now ranges from 162,700 to 229,300 yuan, up by 4,800 to 5,400 yuan, and SUV G3i is now priced from 154,600 to 193,200 yuan, up by 4800 to 5400 yuan.

The new policy went into effect on January 1st, 2022. The reason XPeng Motors didn’t announce the latest prices until today is because the company had promised consumers in December that they could still enjoy the standard subsidy in 2021 if they ordered a car before midnight on January 10, 2022. Today is the deadline.

It should be noted that this time, only the price has been adjusted while there have been no changes in design nor configuration.

As a new energy car maker, XPeng Motors ushered in a large increase last year. It delivered a total of 98,155 vehicles in 2021, 3.6 times that of 2020. The XPeng P7 was the most popular model, with an annual delivery volume of 60,569 units, accounting for 62% of all units shipped.

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The XPeng P5 was released late in the year and didn’t start deliveries on a large scale until October of last year. Since its release,delivery volume has continued to rise, setting a new record of 5,030 units in December. Meanwhile, the XPeng G3, the company’s first model,  performed just so so, with a total of 29,721 units delivered last year, still up by 148% compared to 2020.