Written by Cláudio Afonso | LinkedIn | X
Chinese automaker XPeng registered 8,500 vehicles between March 3 and 9, according to data released by Li Auto on Tuesday, marking a 27% increase from the 6,700 units recorded the previous week.
The figures include 5,650 units of the Mona M03, the brand’s entry-level sedan launched last August, and 1,680 units of the P7+—a decline of 8% compared to the previous week.
XPeng was the best-selling new energy vehicle (NEV) startup in China during the period, surpassing Beijing-based Li Auto, which has remained below 8,000 weekly registrations for five consecutive weeks after previously exceeding 14,000.
Tesla registered 13,800 vehicles as it continued ramping up production of its refreshed Model Y in China. Among other NEV startups, Xiaomi recorded 6,200 units, down 9% from the prior week, and Nio Group 3,000 (-39%) while Stellantis-backed Leapmotor registered 5,900, remaining flat.
XPeng recently launched its X9 MPV in Malaysia, expanding its international footprint. In February, the company added 16 new charging stations across China, bringing its total to nearly 2,100 stations with more than 10,900 charging piles.
XPeng is set to unveil refreshed versions of its G6 and G9 SUVs on March 13, as it updates its lineup to remain competitive in China’s increasingly crowded EV market. The Guangzhou-based automaker is also preparing to introduce its first extended-range model later this year.
In a new research note, Chung upgraded the stock from Hold to Buy and more than doubled the price target to $29.00 from $13.70, citing strong order intake in February and the launch of several new models.