China EVs: Xpeng and Li Auto roll out X9 and Mega MPVs aimed at rich buyers in bid to dominate segment
- Xpeng has priced its new X9 MPV at US$50,700, 7 per cent lower than the presale level in November
- Li Auto is yet to reveal the pricing of its seven-seater Mega, but said in November it would price the minivan below US$84,100
On Monday, Guangzhou-based Xpeng priced its newest model, X9 MPV, at 359,800 yuan (US$50,700), 7 per cent lower than the 388,000 yuan during the presale in November.
MPVs, or minivans, are mainly aimed at rich households in China. As buyers look to replace petrol-powered vehicles built by conventional carmakers such as General Motors, electric MPVs have created opportunities for carmakers such as Xpeng and Li Auto to spur sales of their premium models.
“The rivalry between the two companies in the MPV market is interesting to watch because consumers are increasingly concerned about the domestic economy and their job prospects,” said Phate Zhang, founder of Shanghai-based EV data provider CnEVPost. “All eyes are on Li Auto since it is yet to unveil the price of the Mega vehicles.”
Xpeng said it has received more than 30,000 orders for the seven-seater X9 and will deliver the first batch to buyers this month.
