Chinese electric vehicle maker XPeng has recently made a round of adjustments with its P7, P5 and G3i series by reducing the number of models but retaining current configurations and retail sticker prices.
After this adjustment, the company still has four models on sale for its G3i, and another nine models for the P7 and five for the P5. Each series faced some reduction in its lineup, with 3, 14 and 6 models canceled in each series respectively.
The XPeng P7 is a medium-sized coupe, which is equipped with 60.2 kWh, 70.8 kWh, 77.9 kWh and 83.1 kWh batteries and can sustain a cruising range of 480-670km.
Meanwhile, the G3i is a pure electric compact SUV that was launched on July 9, 2021. Its price after subsidies was 168,900 yuan to 203,900 yuan ($24,859 to $30,010). Adopting a drive motor that has maximum power of 145 kW and a maximum torque of 300 N・m, its cruising range of NEDC is 460-520km.
The high-end versions of the company’s G3i (460N and 520N) have intelligent driving parking systems and L2 automated driving. Unfortunately, the automated driving systems of the lower-priced versions 460G and 520G only include constant speed cruise functionality, and current owners cannot add the automated driving function by purchasing optional installations.
The P5 is the third mass production model owned by XPeng, which is positioned as a compact pure electric sedan. In this update, the memory parking in P5 has been improved, including cross-floor memory parking, sharing routes, and searching free parking spaces.
After the adjustment, the number of models on sale will be greatly reduced, making the process of selecting a vehicle a touch easier for consumers. At the same time, the move will improve the company’s production capacity, shorten the pick-up cycle and reduce some costs.
In October this year, XPeng delivered 5,101 vehicles, down 49.7% year-on-year and 39.8% month-on-month. The shadow of sluggish stock prices have also plagued XPeng for a while. As of press time, the total market value of XPeng in Hong Kong has dropped to HK $51.455 billion, which is nearly HK $320 billion lower than the highest point last year.
XPeng recently established Guangzhou Pengbo Automotive Technology Co., Ltd., whose legal representative is Henry Xia, one of the co-founders of XPeng, with a registered capital of 5 billion yuan. The business scope of the new company includes engineering and technical research and experimental development, automobile parts and accessories manufacturing, battery manufacturing, etc.