Xpeng unveiled its new Mona M03 electric vehicle on August 27. At the Chengdu Auto Show, Xpeng announced that within 48 hours of its release, the company had reported over 30,000 orders for the model. He Xiaopeng, founder, chairman, and CEO of Xpeng, personally handed over the first units to new owners.
The Mona M03 is priced from 119,800 yuan (16,900 USD). The higher-end M03 Max, featuring advanced urban driving capabilities, is expected to be available after the 2025 Lunar New Year. The vehicle boasts a low drag coefficient of 0.194, the lowest for a mass-produced electric sedan, contributing to its impressive range of up to 620 km with a 62.2 kWh battery.
The Mona M03, measuring 4780mm in length, 1896mm in width, and 1445mm in height, is designed to focus on aerodynamics and weight reduction. It features a 15.6-inch central display, and options include a 599 yuan steering wheel-mounted display. The car is equipped with a Qualcomm Snapdragon 8155 chip and supports 360-degree panoramic imaging and 3D map rendering.
The model offers two motor options with maximum powers of 140 kW and 160 kW and battery choices of 51.8 kWh or 62.2 kWh. The lightweight design, with the heaviest version weighing 1739 kg, contributes to its range and efficiency. Xpeng emphasizes that the vehicleβs aerodynamic design includes features like an active air intake grille, significantly reducing drag.
The Mona M03 is seen as Xpengβs attempt to capture a broader market by offering a competitive and affordable intelligent electric vehicle. It compares BYDβs Qin to its target demographic, particularly younger consumers looking for advanced, budget-friendly EVs. To lower the production costs, the Mona M03 does not have a heat pump, and it has a torsion beamΒ rear suspension.
Xpengβs latest innovation, the Eagle Vision system, will debut in the Max version. It features advanced driving assistance without relying on lidar. The system, which aims to provide robust smart driving capabilities, will be tested further as it integrates into Xpengβs future models.
Xpeng aims to sell 10,000 Mona M03 units monthly and is working on additional models. Despite high hopes for the Mona M03 to boost sales, the companyβs overall performance has been mixed. Xpengβs gross profit margin increased to 14% in the second quarter of 2024, surpassing competitors like Nio. However, total vehicle sales from January to July 2024 were only 63,000, falling short of the annual target.
