Xpeng says new G9 SUV may develop into the EV-maker’s best-selling automotive

Xpeng confirmed off its forthcoming G9 SUV on the Chengdu auto present in August 2022.

China Information Service | China Information Service | Getty Photos

BEIJING — Chinese language electrical automotive start-up Xpeng’s latest mannequin will possible promote higher than its hottest automotive so far, in keeping 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.

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Xpeng says new G9 SUV may develop into the EV-maker’s best-selling automotive

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“We predict the quantity of G9 subsequent yr 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 shortly outsold the corporate’s present G3 SUV that launched in December 2018. The P7 ranked tenth amongst all new power passenger vehicles — excluding SUVs — offered in China in the course of the first eight months of this yr, in keeping with the China Passenger Automobile Affiliation.

Greater than 123,000 P7 vehicles have been delivered as of the top of August — practically twice as many because the cumulative supply of roughly 67,000 G3s, in keeping with CNBC calculations of Xpeng information.

Final yr, Xpeng started deliveries of one other sedan, the P5, which has notched cumulative deliveries of greater than 37,000 vehicles as of the top of August, the info evaluation confirmed.

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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 contains 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.

Nonetheless, rival Chinese language electrical automotive start-ups Nio and Li Auto even have new SUVs rolling out to prospects this fall.

The market is now “very aggressive,” Gu mentioned. “We have to give you higher and cooler merchandise to renew that development.”

Foot visitors is lower than half of what we have seen earlier than the summer time.

Retailer foot visitors drops

However Gu mentioned that since summer time, total electrical automotive gross sales haven’t been as strong as they have been firstly of the yr. He pointed to quite a few components, together with anticipation of latest merchandise, Covid-induced retailer closures and hesitant customers.

“Foot visitors is lower than half of what we have seen earlier than the summer time,” he mentioned.

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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 firms.

“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 the best way to 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 provided to us.”

— CNBC’s Arjun Kharpal contributed to this report.

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