Launched Xpeng Motors Corporation Chinese electric car maker P5, a car with new features for autonomous driving, is looking to race in the highly competitive Chinese auto market.
The P5, Xpeng Motors’ third production model and second sedan after the P7, adds another competitor to Tesla’s Model 3 in China’s increasingly crowded electric car industry.
The Chinese company, which is a competitor to local players Nio and Li Auto: It is releasing its prices at the Shanghai Auto Show on April 19, noting that the price P5 will be lower than the price of P7.
The price of the P7 starts at 229900 yuan after the subsidies, and by comparison, the Model 3 from Tesla in China starts at 249900 yuan.
The P5 is supposed to roll out to customers in China in the third or fourth quarter of this year, and Xpeng Motors has also expanded in Norway, its first international market.
The company said: It is expanding its presence in northern Europe, and the P5 is launched there, but without mentioning timetables as to when this will happen.
Xpeng Motors has added autonomous driving features to distinguish it from its competitors The P5 is equipped with Lidar technology to assist the vehicle in Distinguish between pedestrians, cyclists, scooters and road works, even at night and under low-light conditions.
The Chinese automaker has also released a new version of XPilot, the so-called Advanced Driver Assistance System (ADAS). This refers to a system that has some standalone features but is still required for the driver.
XPilot 3.5 includes an updated version of the NGP Navigation Guides feature, which allows users to independently perform tasks such as changing lanes or overtaking cars.
XPilot is an attempt to compete with Tesla’s Autopilot system, as well as other competitors such as Nio’s Nio Pilot.
China’s electric car market is expected to rebound this year with 1.9 million units expected, up 51 percent year-on-year.
Various incentives from the government helped China become the largest market for electric cars in the world, and a number of emerging companies grew rapidly, such as: Xpeng, Nio, and Li Auto.
But these players are competing against the traditional automakers boosting the capabilities of electric cars as well as other tech companies that are in the fight.
Chinese research giant Baidu has teamed up with Geely to create a standalone electric car company, while smartphone giant Xiaomi has announced plans to launch an electric car company.
Last year, Xpeng Motors delivered 27041 cars, more than double compared to 2019, and by comparison, Tesla sold more than 137,000 Model 3 cars in 2020 in China.