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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

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Xpeng’s X9 electric MPV is displayed at the Guangzhou Auto Show in November 2023. Photo: Bloomberg
Daniel Renin Shanghai
Xpeng and Li Auto, two of China’s leading electric vehicle (EV) makers, are battling for supremacy in the multipurpose vehicle (MPV) segment, targeting wealthy families amid a sluggish market.
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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.

Beijing-headquartered Li Auto, the nearest rival to Tesla in mainland China, said a day earlier that it would begin delivering its flagship seven-seater Mega MPV from March 1. The company, however, has yet to reveal the model’s pricing.
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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.

Li Auto’s Mega MPV is displayed at the Guangzhou Auto Show in November 2023. Photo: Bloomberg
Li Auto’s Mega MPV is displayed at the Guangzhou Auto Show in November 2023. Photo: Bloomberg

“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.”

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