Category: XPeng G6

China Electric eMobility eV Tesla XPeng XPeng G6

XPeng to start pre-sales of G6 SUV on Jun 9

Post author By Phate Zhang/CnEVPost
Post date June 1, 2023

The G6 needs to be successful for XPeng to be truly relevant to the market again, Deutsche Bank analyst Edison Yu's team said earlier this week.

(Image credit: CnEVPost)

XPeng (NYSE: XPEV) will start pre-sales of the G6, a new SUV aimed at competing with Tesla's (NASDAQ: TSLA) Model Y, in a week's time.

Pre-sales for the XPeng G6 will begin on June 9, the Chinese electric vehicle (EV) maker announced today on Weibo, without giving any further details.

XPeng had previously pre-sold the P5 sedan. As per previous practice, it is expected to announce the G6's pre-sale price next week and the SUV's official price at the end of June.

The XPeng G6 will officially launch in June, with volume deliveries starting in July, and production capacity will climb rapidly, the company's management said in a May 24 analyst call after announcing first-quarter earnings.

The G6 will be a hot seller in China's new energy SUV market priced between 200,000 yuan ($28,150) and 300,000 yuan, and will enable XPeng's total deliveries to grow well above the industry's pace in the third quarter, the company said.

With about two months set aside for the G6 from the start of production to delivery, XPeng expects the model to reach more than double the sales of the P7i, its management said.

"With margins and cash burn looking materially worse following 1Q earnings, we believe management may be making its last stand with the G6," said Deutsche Bank analyst Edison Yu's team in a research note sent to investors on May 30.

Yu's team believes that XPeng management's words on the call indicate that the EV maker expects to sell 6,000-8,000 units of the G6 per month.

The G6 needs to be successful for XPeng to be truly relevant to the market again, Yu's team said.

XPeng unveiled a new architecture called SEPA (Smart Electric Platform Architecture) 2.0 at a technical conference in Shanghai on April 16, saying the G6 would be the first model built on the architecture.

On April 18, XPeng officially unveiled the G6 on the first day of the Shanghai auto show, saying that the G6 is the ultimate form of car before full self-driving is achieved.

The model is based on the 800 V high-voltage platform and can get a 300-kilometer range in as little as 10 minutes on a charge, XPeng said at the time. The company's other 800 V-based model is the flagship G9 SUV.

XPeng cited the Tesla Model Y as its main competitor to the G6 and hopes to attract consumers with its sleeker design and updated interior.

The vehicle is positioned as an all-electric midsize SUV with a length, width and height of 4,753 mm, 1,920 mm and 1,650 mm, respectively, and a wheelbase of 2,890 mm, a regulatory filing in March showed.

For comparison, the Tesla Model Y has a length, width and height of 4,750 mm, 1,921 mm and 1,624 mm, respectively, and a wheelbase of 2,890 mm.

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XPeng making its last stand with G6, says Deutsche Bank

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China Electric eMobility eV Insights Research Note XPeng XPeng G6

XPeng making its last stand with G6, says Deutsche Bank

Post author By Phate Zhang/CnEVPost
Post date May 31, 2023

With margins and cash burn looking worse following first-quarter earnings, XPeng management may be making its last stand with the G6, Deutsche Bank said. | XPeng US | XPeng HK

(Image credit: CnEVPost)

XPeng (NYSE: XPEV) is expected to officially launch its new SUV, the G6, late next month, which analysts say will be crucial as the company continues to face weak sales and financial performance.

"With margins and cash burn looking materially worse following 1Q earnings, we believe management may be making its last stand with the G6," Deutsche Bank analyst Edison Yu's team said in a research note sent to investors yesterday.

The team's previous view assumed XPeng could see stable natural margin improvement from the sharp drop in battery input prices, but those savings were mostly offset by incremental promotional activity and a poor mix.

" Therefore, the importance of the upcoming G6 has become even GREATER," the team wrote.

XPeng reported weaker-than-expected first-quarter earnings on May 24, with gross margins plunging to 1.7 percent. As a comparison, that figure was 12.2 percent and 8.7 percent in the same quarter last year and the fourth quarter of 2022, respectively.

The company reported a negative 2.5 percent vehicle margin in the first quarter, compared to 10.4 percent in the same period in 2022 and 5.7 percent in the fourth quarter of 2022.

The decline was due to increased sales promotions and the expiration of the new energy vehicle (NEV) subsidy in China, XPeng said.

XPeng's new SUV, the G6, will officially launch in June, with volume deliveries starting in July, and production capacity will climb quickly, its management said in a May 24 analyst call after announcing first-quarter earnings.

The G6 will be a hot seller in China's new energy SUV market priced between 200,000 yuan ($28,200) and 300,000 yuan, and will enable XPeng's total deliveries to grow well above the industry's pace in the third quarter, the company said.

The G6 has been set aside about two months from the start of production to delivery, and XPeng expects the model to reach more than twice the sales of the P7i, its management said.

That means, according to Yu's team, that XPeng management expects the G6 to sell 6,000-8,000 units a month.

The G6 needs to be successful for XPeng to be truly relevant to the market again, the team said.

XPeng will likely price the G6 significantly lower than the Model Y (RMB 263,900), hoping to attract consumers with a sleeker design and updated interior, the team said, adding that the Zeekr X is already taking this approach with a starting price of just RMB 190,000.

A leaked image on Chinese social media on May 22 showed XPeng seeing the first production vehicle of the G6 roll off the line.

XPeng expects second-quarter vehicle deliveries to be between 21,000 and 22,000, and given that it delivered 7,079 vehicles in April, the guidance means the company expects it will deliver a total of 13,921 to 14,921 vehicles in May and June.

Yu's team also noted that XPeng's cash burn trajectory was worse than expected.

"XPeng exited 1Q23 with <25bn RMB in net cash as A/P became a big drag on working capital. This was caused by poor sales performance and also suggests to us suppliers are becoming less accommodative," the team wrote.

After months of lackluster G9 demand, XPeng management may be under pressure from suppliers to be more conservative with its outlook, the team said.

That said, XPeng's operating expenses and capex discipline are still very much intact and should at least get the company through most of next year, Yu's team said.

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XPeng Q1 earnings miss expectations, gross margin falls to 1.7%

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Tags XPeng, Zeekr

China Electric eMobility eV Tesla XPeng XPeng G6

XPeng sees 1st G6 production vehicle off line

Post author By Lei Kang/CnEVPost
Post date May 22, 2023

XPeng management previously said that the G6 will be officially launched and delivered by the end of the second quarter, with a price range of RMB 200,000 - 300,000. | XPeng US | XPeng HK

XPeng (NYSE: XPEV) has seen the first production vehicle of the G6 roll off the assembly line, as the new SUV gets closer to its official launch.

The development was revealed in a leaked image on Chinese social media of XPeng production line employees celebrating the moment, and XPeng has not released any official content about it.

On March 17, XPeng management said during the company's fourth-quarter earnings call that the G6 will be officially launched and delivered by the end of the second quarter, with a price range of 200,000 yuan ($28,450) to 300,000 yuan.

XPeng's monthly sales target for the G6 is two to three times that of the P7, the company's chairman and CEO He Xiaopeng said in the call.

XPeng gave several previews of the model in early April and unveiled the SUV's exterior ahead of its official debut.

On April 16, the electric vehicle (EV) maker unveiled a new architecture, called SEPA (Smart Electric Platform Architecture) 2.0, at a technology conference in Shanghai, saying the G6 would be the first model built on it.

XPeng officially unveiled the G6 on the first day of the Shanghai auto show on April 18, saying that the G6 is the ultimate form of car before full autonomous driving is achieved.

XPeng did not release specific specs or pricing information for the G6, which they expect to know at a future official launch event.

The company appears to be ramping up production preparations for the G6 so that it can deliver it quickly after its official launch, as its local counterparts have proven that strategy to be effective in China's competitive EV market.

XPeng sees the Tesla Model Y as the G6's main competitor. The vehicle is positioned as an all-electric midsize SUV with a length, width and height of 4,753 mm, 1,920 mm and 1,650 mm, respectively, and a wheelbase of 2,890 mm, a regulatory filing in March showed.

For comparison, the Tesla Model Y has a length, width and height of 4,750 mm, 1,921 mm, 1,624 mm and a wheelbase of 2,890 mm.

G6 will need to be successful for XPeng to be truly relevant again in the marketplace, Deutsche Bank analyst Edison Yu's team said in a research note sent to investors on May 17.

XPeng will report its unaudited first-quarter financial results on Wednesday, May 24, before the US markets open, when its earnings call is expected to provide more information on the model.

($1 = RMB 7.0295)

XPeng Q1 earnings preview: Counting down to G6

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Tags Tesla, XPeng

China Electric Electric cars eMobility eV ShanghaiAutoShow2023 XPeng XPeng G6

Xpeng G6 premiered in Shanghai, price and specs leaked

Post author By Jiri Opletal
Post date April 18, 2023

The car comes with 800V fast charging, sits on SEPA 2.0 platform. The top trim level will have 460 HP.

The post Xpeng G6 premiered in Shanghai, price and specs leaked appeared first on CarNewsChina.com.

Auto Show China Electric eMobility eV Tesla XPeng XPeng G6

XPeng G6 debuts at Shanghai auto show

Post author By Phate Zhang/CnEVPost
Post date April 18, 2023

The G6, a new energy SUV with a price range of RMB 200,000-300,000, will be officially launched and delivered by the end of the second quarter, XPeng said previously.

(Image credit: CnEVPost)

XPeng's (NYSE: XPEV) new model G6, its first model based on the next-generation architecture, was officially unveiled today on the first day of the Shanghai auto show.

XPeng said the G6 is the ultimate form of vehicle before full Self-driving is achieved, saying the model is equipped with XNGP intelligent assisted driving that provides powerful environmental awareness and can generate high precision maps in real-time.

The model is based on an 800 V high-voltage platform and can get 300 kilometers of range in as little as 10 minutes of charge, XPeng said. The company's other 800 V-based model is the flagship G9 SUV.

XPeng did not announce specific specifications or pricing information for the G6, which are expected to be known at a future official launch event.

XPeng unveiled its next-generation architecture called SEPA (Smart Electric Platform Architecture) 2.0 at an event in Shanghai on April 16, saying the G6 will be the first model to be built on it.

The architecture will shorten the development cycle of future models by 20 percent and optimize development efficiency significantly, it said, adding that interchangeability and interoperability of common and modular components between new models will reach 80 percent, enabling XPeng to meet diverse customer needs at an optimized cost.

Early last month, a regulatory filing revealed that the XPeng G6 has a length, width and height of 4,753 mm, 1,920 mm and 1,650 mm, respectively, and a wheelbase of 2,890 mm.

For comparison, the Tesla (NASDAQ: TSLA) Model Y measures 4,750 mm in length, 1,921 mm in width and 1,624 mm in height, with a wheelbase of 2,890 mm.

The two single-motor versions of the XPeng G6 feature a 218 kW peak power motor, while the dual-motor version has an additional 140 kW peak power motor.

All three versions of the XPeng G6 in the filing are equipped with cells supplied by CATL's local competitor CALB, and battery packs are manufactured at XPeng's plant in Wuhan, Hubei.

On March 17, XPeng management said during the company's fourth-quarter earnings call that the G6, a new energy SUV with a price range of RMB 200,000 ($29,090) to RMB 300,000, will be officially launched and delivered by the end of the second quarter.

XPeng's monthly sales target for the G6 is two to three times that of the P7, the company's chairman and CEO He Xiaopeng said during the call.

The G6 will have a significantly improved range that will exceed expectations and will have much more interior space than similar offerings from competitors, he said previously.

In a research note sent to investors on March 22, Deutsche Bank analyst Edison Yu's team said the G6 will be the swing factor and that the model will need to succeed in order to make XPeng truly relevant in the market again.

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G6 will be swing factor for XPeng, says Deutsche Bank

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Tags CATL, self-driving, Tesla

China Electric eMobility eV Tesla XPeng XPeng G6

XPeng to unveil next-gen vehicle technology architecture on Apr 16

Post author By Lei Kang/CnEVPost
Post date April 14, 2023

XPeng G6 will be unveiled at the Shanghai auto show and will be officially launched and delivered by the end of the second quarter. | XPeng US XPeng HK

(Image credit: XPeng)

Many car companies have announced new models or technologies ahead of the Shanghai auto show, and XPeng (NYSE: XPEV) will be the next.

XPeng will host a press conference on Sunday, April 16, to showcase its next-generation vehicle technology architecture, according to a press release from the company today.

The press conference, which will be hosted by XPeng chairman and CEO He Xiaopeng, will begin at 3:00 pm Beijing time on April 16.

XPeng did not disclose what the conference will involve but said it will be streamed live on channels including its official website.

In addition, at the 2023 Shanghai auto show, which begins on Tuesday, April 18, the company will debut its next production model, it said.

The Shanghai auto show will be held April 18-27 at the National Exhibition and Convention Center, and XPeng's booth is 6A08, in Hall 6.1.

The company will debut its next production model on the morning of April 18, with a live broadcast from 09:40 - 10:00 am Beijing time.

XPeng didn't mention the model's name, though it's apparently the G6, an SUV that will compete with the Tesla Model Y.

The company began warming up for the G6 earlier this month, releasing several images of the model's exterior.

On March 17, XPeng management said during the company's four-quarter earnings call that the G6, a new energy SUV in the price range of 200,000 yuan ($29,210) to 300,000 yuan, will be unveiled at the Shanghai auto show and will be officially launched and delivered by the end of the second quarter.

XPeng's monthly sales target for the G6 is 2-3 times that of the P7, Mr. He said during the call.

The G6 will have a significantly improved range that will exceed expectations, and will have much more interior space than similar offerings from competitors, he said.

($1 = RMB 6.8461)

XPeng starts warming up for G6, releases official 'spy shot'

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Tags Tesla, XPeng

China Electric eMobility eV Tesla XPeng XPeng G6

G6 will be swing factor for XPeng, says Deutsche Bank

Post author By Phate Zhang/CnEVPost
Post date March 23, 2023

The upcoming G6 will need to be successful to make XPeng to be truly relevant again in the market, said Edison Yu's team. | XPeng US | XPeng HK

(XPeng G6 shown in a regulatory filing.)

XPeng (NYSE: XPEV) will officially debut the G6 at next month's Shanghai auto show, and in Deutsche Bank's view, the new SUV's sales performance will be crucial for the electric vehicle maker.

The upcoming G6 will be the swing factor and the model will need to be successful to make XPeng truly relevant in the market again, Deutsche Bank analyst Edison Yu's team said in a research note sent to investors on Wednesday.

XPeng management said during an earnings call earlier this month that the G6 will be unveiled at the Shanghai auto show and will be officially launched and delivered by the end of the second quarter. The Shanghai auto show will be held from April 18 to April 27.

The model is a new energy SUV with a price range of RMB 200,000 ($29,250) - 300,000 and a monthly sales target of 2-3 times that of the P7, XPeng's management said.

That means at least 5,000 units per month of XPeng G6 sales, based on the trailing 6-month average, Yu's team noted.

XPeng will likely price the G6 similarly to the Tesla Model Y, hoping to attract consumers with its sleeker design and updated interior, the team said.

With increased G6 production, XPeng management believes total monthly deliveries could reach 15,000 units at some point in the third quarter, the team noted.

"This seems achievable and we model XPeng reaching this level in Sep," Yu's team wrote.

XPeng management said during a previous earnings call on August 23, 2022, that the company will launch a B-segment car in the first half of 2023 that will compete with the Tesla Model Y.

That model is the G6, and a regulatory filing earlier this month showed that it will come in three versions according to powertrain, including two single-motor versions as well as a dual-motor version. Its battery pack will have both lithium iron phosphate and lithium ternary batteries available.

The XPeng G6 measures 4,753 mm in length, 1,920 mm in width and 1,650 mm in height, with a wheelbase of 2,890 mm. For comparison, the Tesla Model Y measures 4,750 mm in length, 1,921 mm in width and 1,624 mm in height, with a wheelbase of 2,890 mm.

The G6 will have a significantly improved range that will exceed expectations and will have much more interior space than similar offerings from competitors, XPeng chairman and CEO He Xiaopeng said during the earnings call earlier this month.

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XPeng Q4 earnings call: New order intake up 100% in Feb from Jan

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Tags Tesla, XPeng

China Electric Electric cars eMobility eV Report XPeng XPeng G6

XPeng G6 electric fastback SUV unveiled in China with 487 hp

Post author By Denis Bobylev
Post date March 9, 2023

The XPeng G6 was exposed by the Chinese MIIT in China. It has up to 487 hp. Let's get to know it better.

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China Electric eMobility eV Regulatory Filing Tesla XPeng XPeng G6

Regulatory filing: Here’s what XPeng G6 SUV looks like and core specs

Post author By Lei Kang/CnEVPost
Post date March 9, 2023

Previous reports suggested that the new XPeng new SUV would start at RMB 200,000-250,000 and is expected to be unveiled at this year's Shanghai auto show.

XPEV.US | 9868.HK

The latest regulatory filings reveal XPeng's (NYSE: XPEV) new SUV, which is expected to be released in a few months, as the electric vehicle (EV) maker looks to accelerate its new product launches this year.

China's Ministry of Industry and Information Technology (MIIT) today announced the latest batch of models that will be allowed to be sold in China, and XPeng's new SUV, the G6, is included in the list.

The public can submit feedback on the list between March 9 and March 15. Entry into the catalog is the last major regulatory process before a model is allowed to be sold in China.

There are three versions of the XPeng G6 in the catalog, including two single-motor versions and one dual-motor version.

One of the two single-motor versions will be powered by a lithium iron phosphate battery pack, while the other single-motor version and the dual-motor version will both be powered by the more costly ternary lithium batteries.

The XPeng G6 has a length, width and height of 4,753 mm, 1,920 mm and 1,650 mm, respectively, and a wheelbase of 2,890 mm, according to these filing pages.

The model appears to be the one previously mentioned by XPeng management to compete with Tesla's (NASDAQ: TSLA) Model Y, which measures 4,750 mm in length, 1,921 mm in width, 1,624 mm in height and has a wheelbase of 2,890 mm.

Both single-motor versions of the XPeng G6 are equipped with a motor with 218 kW peak power, while the dual-motor version has an additional 140 kW peak power motor.

All three versions of the XPeng G6 will be equipped with battery cells supplied by CATL's local competitor CALB, and the battery packs will be manufactured at XPeng's plant in Wuhan, Hubei.

XPeng management said during an earnings call on August 23, 2022 that the company will release a B-segment vehicle in the first half of 2023 that will compete with the Tesla Model Y.

The model was previously seen as possibly being named the G7 or G5, although spy photos shared by some local media last month showed that it will be called the G6.

XPeng chairman and CEO He Xiaopeng said in a January 28 internal all-staff letter that the company will release two new models and revamp three existing older models in 2023, with a goal of delivering 200,000 vehicles for the year, according to a previous report by LatePost.

That report said at the time that the new XPeng SUV would start at RMB 200,000 ($28,680)-250,000 and was expected to be unveiled at this year's Shanghai auto show.

XPeng's current models on sale include the G3i, P5, P7 and G9, and the company has officially unveiled the P7i, a facelift of the P7, on March 6, but not the price. Earlier today, a media report said that XPeng may officially let the P7i go on sale and announce the price on March 10.

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