Chinese electric vehicle (EV) unicorn and Tesla rival, Xpeng, unveiled its new flagship models to several northern European countries, as it makes a pronounced international push in 2023.
The Guangzhou-based startup launched its luxury P7 sedan and G9 sports utility vehicle (SUV) in Denmark, Sweden, Norway and the Netherlands in early February, according to the news outlet CNBC.
Xpeng’s first venture into Europe came back in 2020 when it launched the G3 SUV to Norwegian customers.
Xpeng is one of a handful of Chinese EV firms seeking to challenge Tesla’s dominance in the relatively young marketplace by establishing a foothold in Europe, particularly in Scandinavia, where EV adoption is the fastest.
In September 2022, Warren Buffett-backed Chinese automotive giant, BYD, expanded its presence in Europe beyond Norway by introducing a trio of new EVs to several countries, including Germany, Luxemburg, Belgium and Sweden.
Xpeng says the P7 sedan has a range of 576 kilometres and is priced at an estimated €49 990 (in the Netherlands), according to CNBC.
Its Tesla equivalent, the Model 3 Long Range, travels 602 kilometres before the battery depletes and retails for €53 990.
The G9 SUV is priced slightly higher than its closest Tesla rival at an estimated €57 990, compared to the Tesla Model Y Long Range’s €53 990 price tag. Both SUVs have similar ranges at 570 and 533 kilometres per charge, respectively.
The G9 has been available in China since its launch in October last year, with an estimated 8 622 units delivered to customers on the mainland since then, according to data compiled by Shanghai-based EV blog, cnEVPost.
Chinese brands make up roughly 5.8 per cent of the European EV market but this will rise sharply in coming years as prices for Chinese EVs continue to drop, according to Inovev, a French automotive consultancy firm.
Chinese EV manufacturers would need some time to foster their brands overseas before sales figures increased to the level of more seasoned players like Tesla and Volkswagen, which have established their presence in Europe for nearly a decade, said Chen Xiao, CEO of marketing firm, Shanghai Yacheng Culture.
China’s increasing international recognition in the auto industry is the result of four decades of effort by Chinese manufacturers, according to automotive consultant and CEO of Shanghai Mingliang Auto Service, Chen Jinzhu.
Last year China surpassed Germany as the world’s second-largest automotive exporter, shipping a recorded 3.11 million units in 2022.
This is up more than 54 per cent from 2021 and they could soon claim the number one spot from Japan, according to the South China Morning Post.
