Xpeng (9868. HK), a Chinese electric vehicle producer, expects its new model to outperform Tesla (TSLA.O) in the year’s second half.
On Wednesday, Xpeng president Brain Gu told reporters that its new G6 pure electric crossover had received “significant” orders. He stated it would boost monthly sales to 15,000 units in the third quarter, roughly twice in June and May, and above 20,000 units in the fourth quarter.
The optimistic prediction comes after months of sales slumps and increased losses for EV companies like Xpeng and Nio, even as Tesla and BYD announced record second-quarter deliveries amid a price war.
Xpeng, which saw first-half sales plummet 40%, will start delivering its G6 compact crossover this month at 20% less than Tesla’s best-selling Model Y.
At the Shanghai auto show in April, the Chinese business introduced the G6, the first vehicle based on its next-generation technology architecture that lowers manufacturing costs.
Xpeng’s advanced driver assistance system XNGP will allow G6 drivers to use assisted-driving technologies like Tesla’s Full Self-Driving (FSD) on urban roads in major cities. Despite customer requests, Tesla launched FSD four years ago but has yet to launch it in China.
Gu said G6 brought Xpeng’s most advanced autonomous driving capabilities to EVs under 250,000 RMB ($34,500.37).
We always believe that smart-driving technologies will become a true mobility differentiator. “The G6 debut gives us confidence,” he added.
After announcing G6 prices last Thursday, Xpeng Hong Kong shares rose over 20%.
