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Xpeng P5 price starts at $24,700 undercutting Tesla Model 3 in China

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Xpeng Motors launches the P5 sedan at an event in Guangzhou, China on April 14, 2021. The P5 is Xpeng’s third production model and features so-called Lidar technology.

Arjun Kharpal | CNBC

GUANGZHOU, China — Chinese electric carmaker Xpeng Inc. has priced its new P5 sedan as low as 160,000 yuan ($24,694) days after Tesla launched a cheaper version of its Model Y sports utility vehicle

The aggressive pricing from Xpeng comes as China’s electric vehicle market continues to heat up with an increasing number of players.

The P5 — Xpeng’s third production model and second sedan after the P7 — was launched earlier this year. There are six different versions of the car with different…



Source cnbc.com

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