Xpeng Says New G9 SUV Could Become EV Maker’s Best-Selling Car

Xpeng Says New G9 SUV Could Become EV Maker's Best-Selling Car

Xpeng showcased its upcoming G9 SUV at the Chengdu Auto Show in August 2022.

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BEIJING — Chinese electric car start-up Xpeng’s latest model is likely to outsell its most popular car yet, according to Brian Gu, the company’s president and honorary vice chairman.

The company formally launched its G9 SUV on Wednesday. The car is scheduled to begin deliveries in October.

“We think the volume of the G9 will exceed what we achieved for P7 next year, making it one of our best-selling vehicles,” Gu said in an interview with CNBC’s Eunice Yoon this week.

The P7 was Xpeng’s first sedan, launched in May 2020, quickly outselling the company’s existing G3 SUV launched in December 2018. years, according to the China Passenger Car Association.

More than 123,000 P7 cars had been delivered by the end of August — nearly twice the cumulative delivery of about 67,000 G3s, according to CNBC calculations of Xpeng data.

Last year, Xpeng began deliveries of another sedan, the P5, which delivered more than 37,000 cars by the end of August, the data analysis shows.

The G9 comes with Xpeng’s latest driver assistance system, which Gu said will perform even better than any previous model because the new SUV includes powerful Nvidia Orin chips.

With just five minutes of charging at an Xpeng station, he said the new car can add 200 kilometers of range.

However, competing Chinese electric car start-ups Nio and Li Auto will also have new SUVs for customers this fall.

The market is now “very competitive,” Gu said. “We need to come up with better and cooler products to resume that growth.”

The pedestrian traffic is less than half of what we saw before the summer.

Shop foot traffic drops

But Gu said electric car sales haven’t been as robust since the summer as they were at the start of the year. He pointed to a number of factors, including anticipation of new products, Covid-induced store closures and hesitant consumers.

“Foot traffic is less than half of what we saw for the summer,” he said.

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