Xpeng says new G9 SUV could become the EV-maker’s best-selling car

Xpeng confirmed off its forthcoming G9 SUV at the Chengdu auto present in August 2022.

China News Service | China News Service | Getty Images

BEIJING — Chinese electrical car start-up Xpeng’s latest mannequin will probably promote higher than its hottest car thus far, in keeping with Brian Gu, the firm’s president and honorary vice chairman.

The firm formally launched its G9 SUV on Wednesday. The car has been slated to start deliveries in October.

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

The P7 was Xpeng’s first sedan, launched in May 2020, which shortly outsold the firm’s present G3 SUV that launched in December 2018. The P7 ranked tenth amongst all new power passenger automobiles — excluding SUVs — offered in China throughout the first eight months of this yr, in keeping with the China Passenger Car Association.

More than 123,000 P7 automobiles have been delivered as of the finish of August — almost twice as many as the cumulative supply of roughly 67,000 G3s, in keeping with CNBC calculations of Xpeng information.

Last yr, Xpeng started deliveries of one other sedan, the P5, which has notched cumulative deliveries of greater than 37,000 automobiles as of the finish of August, the information evaluation confirmed.

The G9 comes with Xpeng’s newest assisted driving system, which Gu stated will carry out even higher than in a previous mannequin’s as a result of the new SUV contains high-power Nvidia Orin chips.

With simply 5 minutes of charging at an Xpeng station, he stated the new car can add 200 kilometers of driving vary.

However, rival Chinese electrical car start-ups Nio and Li Auto even have new SUVs rolling out to clients this fall.

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

Foot visitors is lower than half of what we have seen earlier than the summer time.

Store foot visitors drops

But Gu stated that since summer time, total electrical car gross sales haven’t been as sturdy as they have been at the starting of the yr. He pointed to a variety of elements, together with anticipation of new merchandise, Covid-induced retailer closures and hesitant shoppers.

“Foot traffic is less than half of what we’ve seen before the summer,” he stated.

Read extra about electrical autos from CNBC Pro

As others at his firm and in the business have stated, Gu stated Xpeng was not affected by the newest U.S. restrictions on Nvidia gross sales to Chinese corporations.

“It does not apply to us because we don’t use that kind of chips,” Gu reiterated.

“I think obviously, the cloud or data center partners that we work with, they need to think about how to continue to secure such capabilities,” he stated. “It’s not something that we are worried about, but obviously we need to make sure that we have these capabilities supplied to us.”

— CNBC’s Arjun Kharpal contributed to this report.

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