Xpeng began pre-sales of the P7+ on October 14 with a starting price of CNY 209,800 (US$29,450) and received more than 30,000 pre-orders in the first hour and 48 minutes.
Xpeng (NYSE:
The launch event will be held in Guangzhou at the South China University of Technology, which is also the university from which Xpeng Chairman and CEO He Xiaopeng graduated.
One day before the official launch of the P7+, Xpeng will hold an AI Tech Day event at the university, which will start at 2:30 PM Beijing time on the same day. Xpeng announced earlier this month that it had upgraded its previous 1024 Tech Day to Xpeng AI Tech Day.
Guangzhou-based Xpeng introduced the P7+ to European consumers in Paris, France, on October 14, and announced that the model was available for pre-sale in China with a starting price of CNY 209,800 (US$29,450).
As is typical for Chinese electric car makers launching new models, the price of the P7+ will likely drop when it goes on sale.
Hours after the model began accepting pre-orders, Xpeng announced on Weibo on October 14 that pre-orders for the P7+ had surpassed 30,000 units just an hour and 48 minutes after pre-sales began.
In a research note sent to investors on October 16, Deutsche Bank analyst team Wang Bin said that the pre-sale price of the P7+ was largely in line with their expectations and was a reasonable price.
The team said that since the final official price is usually lower than the pre-sale price, the final price is expected to start at CNY 190,000, given Xpeng’s previous track record in pricing arrangements.
Wang’s team expects the P7+ to sell an average of 6,000 units per month, which is roughly in line with market expectations of 5,000 to 7,000 units per month.
The P7+ is a mid- to large-sized electric sedan with a length, width and height of 5,056 mm, 1,937 mm and 1,512 mm, and a wheelbase of 3,000 mm, according to previously released information.
They are powered by 60.7 kWh and 76.3 kWh lithium iron phosphate batteries, equivalent to ranges of 620 km and 710 km, respectively.
The P7+’s exterior design has been optimized to reduce wind resistance, and Xpeng said the model consumes up to 11.6 kilowatt-hours of electricity per 100 kilometres.
On October 18, Xpeng announced that the first P7+ production vehicles rolled off the assembly line at its Guangzhou facility in preparation for rapid delivery after launch.
($1 = 7.1228 Chinese yuan)
Xpeng sees the first production vehicles of its P7+ electric sedan rolling off the production line
