Xpeng has delivered more than 10,000 units of the Mona M03 for the second consecutive month since its launch, and the model’s production capacity was increased by 40 percent in November.
Xpeng (NYSE: XPEV) is continuing to ramp up production capacity for the M03, the first model in its Mona lineup, following its popularity after launch.
Before the Chinese New Year, monthly production capacity for the Mona M03 will reach 20,000 units to support the model’s hot sales, the Chinese electric vehicle (EV) maker said today at a media briefing on the first day of the 2024 Guangzhou auto show.
The next Chinese New Year holiday will start on January 28, 2025 and last until February 4.
The Xpeng Mona M03 has delivered more than 10,000 units for two consecutive months since its launch, and the model’s production capacity was increased by 40 percent in November, the company said.
Xpeng officially launched the Mona M03 electric sedan on August 27, offering three variants with starting prices of RMB 119,800 ($16,560), RMB 129,800 and RMB 155,800, respectively.
The Mona M03 becomes the least expensive of Xpeng’s models on sale, at about half the price of the Tesla (NASDAQ: TSLA) Model 3.
Deliveries of the two lower-priced variants of the Mona M03 have already begun, while deliveries of the highest-priced Max variant will start after the Chinese New Year holiday.
On August 30, Xpeng said on the first day of the Chengdu auto show that the Mona M03 received more than 30,000 firm orders in the first 48 hours after its launch.
The model delivered 517, 10,023 and 10,203 units from August to October, respectively, according to data compiled by CnEVPost.
Xpeng delivered 23,917 vehicles in October, its second consecutive record month.
More than 50 percent of Mona M03 owners are under 30 years old, 95 percent like the model’s looks and 82 percent of users like the intelligence, the company said today.
The model had the fastest production climb of any new model in Xpeng’s history, He Xiaopeng, the company’s chairman and CEO, said in a September 14 Weibo post.
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