When XPeng Motors announced its new MONA line of AI-centric BEVs, the company said it was targeting Tesla in China. After officially launching its first MONA model, the M03, in China today, XPeng is now coming in with guns drawn, announcing a starting price of 119,800 RMB ($16,815). That’s more than half the price of a Tesla Model 3. As a result, the M03 has received huge orders right from the start.
It’s been a tiring but exciting journey for XPeng Motors and its new MONA range of BEVs, announced in April. Although MONA was initially described as a new all-electric sub-brand under the XPeng umbrella, it has since evolved into a portfolio of AI-powered models, starting with the flagship M03.
This first model was officially unveiled in early July and is expected to cost under 200,000 RMB ($27,500). Earlier this month, XPeng founder, chairman and CEO He Xiaopeng said that mass production of the M03 had begun in China ahead of the planned launch event on August 27.
A product poster that surfaced shortly after revealed that the MONA M03 would be released at a significantly lower starting price than originally promised – 135,900 RMB ($19,040). Today, however, XPeng surprised the public again and officially launched pre-orders for the M03 at an even lower starting price.
The price is right with the launch of XPeng’s MONA M03
After a launch event in China today, the MONA M03 has been officially launched and is available for pre-order. According to XPeng, the M03 received over 10,000 orders in the first 52 minutes, and we know why.
According to MONA Twitter The M03 is available in three different trim levels, priced at RMB 119,800 ($16,815), RMB 129,800 ($18,220) and RMB 155,800 ($21,870), respectively. The three variants – 515, 620 and 580 Max – refer to the CLTC range (km) of each M03, and “Max” represents the addition of XPeng’s intelligent ADAS capability.
When XPeng first unveiled the MONA M03 in July, He Xiaopeng said it was designed as an “honor for the Tesla Model 3.” Judging by the above prices, the Chinese automaker is more concerned with challenging the Model 3’s status in China than anything else.
For example, the Model 3 is currently available in three trim levels in China, priced at RMB 231,900 ($32,550), RMB 271,900 ($38,160) and RMB 335,900 ($47,150). Even in the top trim, the MONA M03 is now available for more than half the price of its Tesla rival.
Not to mention, the new XPeng sedan is longer, wider and taller than the Model 3 and has a slightly shorter wheelbase.
Each model is powered by a single motor that can accelerate the 515 from 0-100 km/h in 7.8 seconds and the 620 and 580 Max variants in 7.4 seconds. The cheapest trim has a 51.8 kWh battery, while the other two come with 62.2 kWh batteries. At today’s launch, Xiaopeng said the Mona M03 consumes 11.5 kWh of electricity per 100 kilometers.
With pre-orders now open, Xpeng announces that deliveries of the Mona M03 will begin in September, with deliveries of the Max variant expected to begin after the Chinese Spring Festival holiday in late January to early February 2025.
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