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Tesla’s Chinese Competitor Has a New Car Model

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On Sept. 21, a Tesla Chinese rival will launch its new SUV live.

Tesla, Inc. (TSLA) – get the Tesla Inc. stock report and industry leader in electric vehicle production and deliveries, is producing and selling its Model S and Model 3 sedans, as well as its Model Y and Model X SUVs.

This year, the company is looking to produce over a million and deliver at least a million of those; with over 563,987 produced and over 545,884 delivered so far this year. It had to deal with fierce competition from a Chinese rival who placed second with 323,519 cars sold in the first six months.

The production and delivery numbers of other Chinese competitors of Tesla are not close to those of the industry leader. NIO Inc., a Shanghai-based automaker – Shareholders of NIO Inc. should receive NIO’s Share Performance Quarterly Update 227,949 EVS delivered during the first seven months of the year, with a year-over-year growth of 96%. As for XPeng in Guangzhou, China, the number was 90,085 EVS during the first eight months of the year, a 96% growth. The company plans to increase that number by releasing their newest product.

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New SUV Arrives at Launch Event

An XPeng live launch event will take place on Sept. 21 at 7 a.m. Eastern time on its website, Meta Platform’s (META) – Get Meta Platforms Inc. Report Facebook and Twitter (TWTR) – Get Twitter Inc. Report.

The G9 SUV is claimed to be the world’s fastest-charging mass-produced EV utilizing China’s first 800 V mass-production Silicon Carbide, according to XPeng.The premium cabin will include Xpeng’s proprietary media system, Xopera, engineered to create an immersive 5D experience, which is the industry’s first full-scenario Advanced Driver Assistance System.

Xpeng announced that the first 24 hours after reservations were opened resulted in more than 20,000 pre-orders for the car. The website does not list a retail price for the G9, but many reports said the price will be under $74,000.

Tesla G9 features a semi-autonomous driving system, Tesla’s Autopilot feature, with an eye to matching the performance of Tesla Model Y.

he Xiaopeng, the company’s CEO, said after the G9 was introduced in November that “our flagship smart SUV represents a new generation of sophistication with a global perspective,” and is a key part of the company’s commitment to smarter, safer, greener, and more sustainable mobility.

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SUV Pricing All Over the Map

XPeng’s G9 will have to cost a bit less in order to compete with Tesla’s Models X, starting at $112,590, or Model Y, starting at $58,190. For cheaper, the Model Y Long Range SUV starts at $58,190, while the Model Y Performance is priced at $62,190. $130,590 is the price of Tesla’s Model X SUV, but $130,590 is the price of the Model X Plaid.

On the contrary, XPeng is capable of competing on price with BMW because its electric SUV iX xDrive50 is priced at $84,100.

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However, none of those SUVs are close to the most expensive SUV on the world market – the Ferrari Purosangue, which costs $389,000 (390,000 euros). There are many other, high-end SUVs available, including the Rolls Royce Cullinan ($330,000), the Lamborghini Urus ($222,004), the Range Rover SVAutobiography Dynamic Black Edition ($211,000), the Porsche Panamera Turbo S Sport Turismo ($195,000), the Aston Martin DBX ($176,900) and the Bentley Bentayga ($166,425).

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Therefore, a Tesla Model X Plaid, Model X, either Model Y or the BMW iX xDrive50 SUX, and yes, the XPeng G9, would be an economical purchase when compared to any high-end European six-figure luxury SUV.

CNET
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