Xpeng says new G9 SUV might grow to be the EV-maker’s best-selling automotive
BEIJING — Chinese language electrical automotive start-up Xpeng’s latest mannequin will seemingly promote higher than its hottest automotive to this point, in line with Brian Gu, the corporate’s president and honorary vice chairman.
The corporate formally launched its G9 SUV on Wednesday. The automotive has been slated to start deliveries in October.
“We predict the quantity of G9 subsequent 12 months will exceed what we’ve achieved for P7, which makes it one among our top-selling automobiles,” Gu mentioned in an interview with CNBC’s Eunice Yoon this week.
The P7 was Xpeng’s first sedan, launched in Could 2020, which rapidly outsold the corporate’s current G3 SUV that launched in December 2018. The P7 ranked tenth amongst all new power passenger automobiles — excluding SUVs — offered in China throughout the first eight months of this 12 months, in line with the China Passenger Automotive Affiliation.
Greater than 123,000 P7 automobiles have been delivered as of the tip of August — almost twice as many because the cumulative supply of roughly 67,000 G3s, in line with CNBC calculations of Xpeng information.
Final 12 months, Xpeng started deliveries of one other sedan, the P5, which has notched cumulative deliveries of greater than 37,000 automobiles as of the tip of August, the information evaluation confirmed.
The G9 comes with Xpeng’s newest assisted driving system, which Gu mentioned will carry out even higher than in a previous mannequin’s as a result of the brand new SUV consists of high-power Nvidia Orin chips.
With simply 5 minutes of charging at an Xpeng station, he mentioned the brand new automotive can add 200 kilometers of driving vary.
Nevertheless, rival Chinese language electrical automotive start-ups Nio and Li Auto even have new SUVs rolling out to clients this fall.
The market is now “very aggressive,” Gu mentioned. “We have to provide you with higher and cooler merchandise to renew that progress.”
Retailer foot site visitors drops
However Gu mentioned that since summer season, total electrical automotive gross sales haven’t been as sturdy as they have been at the start of the 12 months. He pointed to quite a few components, together with anticipation of latest merchandise, Covid-induced retailer closures and hesitant customers.
“Foot site visitors is lower than half of what we have seen earlier than the summer season,” he mentioned.
As others at his firm and within the trade have mentioned, Gu mentioned Xpeng was not affected by the most recent U.S. restrictions on Nvidia gross sales to Chinese language corporations.
“It doesn’t apply to us as a result of we do not use that type of chips,” Gu reiterated.
“I feel clearly, the cloud or information heart companions that we work with, they want to consider how one can proceed to safe such capabilities,” he mentioned. “It isn’t one thing that we’re fearful about, however clearly we have to guarantee that we’ve these capabilities equipped to us.”
— CNBC’s Arjun Kharpal contributed to this report.