Xpeng says new G9 SUV may change into the EV-maker’s best-selling automobile

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

China Information Service | China Information Service | Getty Photographs

BEIJING — Chinese language electrical automobile start-up Xpeng’s latest mannequin will possible promote higher than its hottest automobile 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 automobile has been slated to start deliveries in October.

“We predict the amount of G9 subsequent 12 months will exceed what we now have achieved for P7, which makes it one in every of 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 Might 2020, which shortly outsold the corporate’s current G3 SUV that launched in December 2018. The P7 ranked tenth amongst all new vitality passenger automobiles — excluding SUVs — offered in China through the first eight months of this 12 months, in keeping with the China Passenger Automobile Affiliation.

Greater than 123,000 P7 automobiles have been delivered as of the top of August — almost twice as many because the cumulative supply of roughly 67,000 G3s, in keeping 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 top of August, the info evaluation confirmed.

Xpeng says new G9 SUV may change into the EV-maker’s best-selling automobile

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 automobile can add 200 kilometers of driving vary.

Nonetheless, rival Chinese language electrical automobile 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 give you higher and cooler merchandise to renew that progress.”

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

Retailer foot site visitors drops

However Gu mentioned that since summer time, total electrical automobile gross sales haven’t been as strong as they have been in the beginning of the 12 months. He pointed to quite a lot of elements, together with anticipation of recent merchandise, Covid-induced retailer closures and hesitant customers.

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

Learn extra about electrical automobiles from CNBC Professional

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 sort of chips,” Gu reiterated.

“I believe clearly, the cloud or information heart companions that we work with, they want to consider methods to proceed to safe such capabilities,” he mentioned. “It is not one thing that we’re anxious about, however clearly we have to make it possible for we now have these capabilities equipped to us.”

— CNBC’s Arjun Kharpal contributed to this report.

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