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Xpeng launches Mona L03 SUV in Germany, targets 8,000 sales this year
The Mona L03 starts at €35,600 in Germany, pricing below Tesla’s Model Y and Audi’s Q4 e-tron as Xpeng pushes its European production strategy.
Chinese electric vehicle maker Xpeng used a launch event in Munich to spotlight its European push, unveiling the Mona L03 compact SUV in what the company called a major step for its long term plans. Speaking at the event, Xpeng chairman and CEO He Xiaopeng said the firm wants to bring products to Europe and also build them for the region.
Xpeng framed Germany as its preferred market because it is home to the auto industry, and said the launch is intended to show the company is “here to stay.” The company also delivered its first keynote entirely in English, with He joking that attendees would have to forgive his “Hubei accent,” according to SCMP Economy.
The firm’s sales targets underscore the scale of its ambition, aiming for 8,000 sales in Germany this year and 20,000 next year. SCMP Economy also noted the L03 pricing, which starts at €35,600 in Germany, undercutting Tesla’s Model Y by more than €3,000 and Audi’s Q4 e-tron by over €10,000.