XPeng finally released the final price for its Lidar-powered P5 EV sedan. Here are all the major details you need to see to know if it is worth buying.
XPeng is one of the biggest competitors of Tesla, the number of EV manufacturers across the globe right now. This Chinese EV creator is one of the companies that decided to follow Elon Musk’s clean energy plan through EV technologies.
On Saturday, July 17, the Chinese electric vehicle maker XPeng announced pricing for its new lidar-equipped sedan, as competition continues to heat up in the EV industry. The company confirmed that its P5 Sedan model will be retailed for about $24,600 to $35,400.
When it comes to comparison with Tesla Model 3, XPeng P5 Sedan is much cheaper since Elon Musk’s EV model costs around $38,700 after subsidies. The higher-end version of the Tesla Model 3 costs more, with a price tag of more than $50,000.
As of the moment, XPeng‘s efforts are quite great, especially since China is the world’s largest car market and demand for electric vehicles is booming thanks in large part to generous government subsidies for green cars.
Right now, Tesla is having some trouble when it comes to its EV competitors in China. These include XPeng, Li Auto, and Nio. However, Elon Musk’s giant automaker is still considered the top EV provider in the Asian country. Because of this, it is still able to make around 15% of its total revenue in China back in 2020.
Tesla’s Rival P5 Details
XPeng’s new P5 Sedan EV is semi-autonomous with 32 perception sensors, including 13 high-definition cameras alongside light detection and ranging (Lidar) technology, which uses lasers to measure the distance, shape, and orientation of objects.
Aside from this, the new XPeng P5 Sedan EV also has a top speed of 105.6 miles per hour and can accelerate from 0 to 62 miles per hour in 7.5 seconds. Its estimated cruising range starts at 286 miles, rising to 373 miles for the more expensive models.
The Chinese electric car maker already launched pre-orders for the P5 in April and said that it expects to start deliveries in the fourth quarter of 2021. P5 is considered the giant automaker’s second sedan model. It started deliveries of its pricier sports sedan, the P7, in June 2020. It also sells the G3, a long-range smart SUV.
On the other hand, the giant electric car developer also explained that it is currently offering its new P5 Sedan EV at a cheap price since Tesla is still struggling to regain its usual yearly earnings in the Chinese market. Elon Musk’s company suffered a huge sales hit in China in April after a string of crises.
However, the giant electric car maker’s sales bounced back in May. But it then had to recall 285,000 cars in June for a remote software update because drivers were accidentally turning on its Autopilot feature. While Tesla is struggling with its reputation in China, the Chinese automaker is reporting record growth.