Buoyed by the success of the Xpeng P7, Xpeng Motors plans to launch more premium EVs. The company is planning at least three such products, executives revealed during its Q2 2021 earnings conference call.
He Xiaopeng, Co-Founder and CEO, Xpeng Motors, said during the conference call that the company could launch products positioned above the Xpeng P7, which outsold the Audi A4 in China in July 2021.
Last month, delivery of P7 actually surpassed that of Audi A4. So that says a lot about our capability of entering the premium market. In the future, we target the even higher price range, at about RMB 400,000 to RMB 500,000 (USD 62,000 to USD 77,000) even.He Xiaopeng, Co-Founder and CEO, Xpeng Motors (Q2 2021 earnings conference call)
Xpeng developing a new platform
Xpeng Motors’ fourth model will be an SUV (possibly Xpeng G7) inspired by the P7, with which it will share the company’s Edward platform. Here, the wheelbase will measure between 2,800 and 3,100 mm. Brian Gu, Vice Chairman and President, Xpeng Motors, talked about the company’s upcoming products after this SUV. He said that the fifth and sixth Xpeng EV models will sit on a new platform developed for mid- to high-end products and both left-hand drive and right-hand drive markets.
In addition to the G3, the P7 and P5, we will have a new platform that will have both the right-hand and left-hand driving capability target at both domestic and international markets will be a very large volume driver.Brian Gu, Vice Chairman and President, Xpeng Motors (Q2 2021 earnings conference call)
The new premium Xpeng EV models will support Xpilot 3.0 or above (incl. Xpeng X3.5, Xpeng 4.0, or newer versions). Xpeng Motors plans to roll out the Xpilot 3.5 software early next year and then the Xpeng 4.0 software in 2023. The company will expand its R&D team working on autonomous driving technology, navigation for international markets, and hardware. It increased its R&D headcount by nearly 50% to over 3,000 employees by Q2 2021. By Q4 2021, it will increase that number to 4,500.
The fourth Xpeng EV due in 2022, and maybe even the fifth and sixth Xpeng EVs, could have a low-end battery pack option with LFP cells in addition to one or two premium battery pack option(s) with NMC cells. More than 20% of the G3 and P7 models Xpeng Motors sells are in their LFP configurations.
With the growing supply of LFP cells, we’re confident with the increasing proportion of LFP models among our deliveries in the future.He Xiaopeng, Co-Founder and CEO, Xpeng Motors (Q2 2021 earnings conference call)
Xpeng eyes RHD markets
With its upcoming new premium models, especially the fifth and sixth products ready for RHD markets, Xpeng Motors will likely expand its footprint globally rapidly. Already present in Norway, Xpeng Motors could enter more European markets in 2022. UK is the biggest RHD market in the region, whereas Australia and New Zealand are also seeing a few EV launches in 2021.
Our target is to prepare ourselves for the overseas market in both left- and right-hand drive countries within the three years’ time of 2020 to 2022, and accelerate our penetration into international markets with our upcoming Smart EV models equipped with XPILOT 4.0 starting from 2023.He Xiaopeng, Co-Founder and CEO, Xpeng Motors (Q2 2021 earnings conference call)
Featured Image Source: Xpeng Motors