![Xpeng P5 EV set for April 14 reveal; company posts all time quarterly sales record for 2021 [UPDATED]](https://images.squarespace-cdn.com/content/v1/5237a580e4b09510ca448d5e/1617864573620-OW94O0V3EMOMDV212S2D/Xpeng-P7.jpg)
Xpeng P5 EV set for April 14 reveal; company posts all time quarterly sales record for 2021 [UPDATED]
Chinese electric vehicle manufacturer Xpeng (also known as XMotors.ai and Xiaopeng Motors) will reveal their P5 mid-size electric sedan online on April 14 at 2pm ET/8pm CET/4am 15/4 AEST prior to the media and public reveal at the Shanghai Auto Fair.
Xpeng’s upcoming P5 sedan
[Updated]: Chinese electric vehicle manufacturer Xpeng (also known as XMotors.ai and Xiaopeng Motors) will reveal their P5 mid-size electric sedan online on April 14 at 2pm ET/8pm CET/4am 15/4 AEST prior to the media and public reveal at the Shanghai Auto Fair. This follows the recent sighting of camouflaged prototypes undergoing final development testing on the streets of China, and the following teaser image from XPeng:
XPeng’s Chairman He Xiaopeng has hinted in previous discussions with Chinese media that the P5 will be the first production vehicle with Lidar technology — now confirmed in the above tweet — and that the P5 will be equivalent in size roughly to the Toyota Camry and Honda Accord (and obviously, Tesla’s Model 3)
The P5 carries the company’s contemporary styling cues, and appears to offer two driver displays in the interior. The vehicle architecture is shared with the company’s G3 crossover, and customer deliveries are expected to commence towards the end of 2021.
XPeng’s P5 undisguised. Credit: reddit.com/wyboongk
XPeng posts best ever monthly and quarterly sales results
Admittedly, XPeng’s 2020 sales didn’t hit expectations due to a number of factors—only 6 months of P7 sedan sales as well as the COVID-19 pandemic—but the company has posted strong numbers for this year, with 13,340 sales from January to March 2021, versus 1,419 for the previous period in 2020. The company sold 7,974 P7 sedans, and 5,366 G3 SUVs, and also surpassed a cumulative total of 50,000 vehicles.
According to XPeng, "The Company attributed the record quarterly deliveries to its growing brand recognition and product appeal, expanded product portfolio and its relentless efforts in broadening sales, marketing and supercharging service networks across China."
Xpeng is working hard to continue growing its sales as well as its brand in China, and faces stiff competition from BYD, NIO, upcoming Zhiji Auto and of course, Tesla. XPeng is growing its DC fast charging network across China, with over 935 sites across 139 cities available by the end of 2021. The company has also reached an agreement with NIO for customers of either brand to be able to share fast charging stations. In addition, Xpeng has brought in a lower-priced lithium iron phosphate (LFP) battery option from CATL, designed for city-based customers for whom a longer battery range is of limited value. Customers who opt for the LFP battery option can expect to save around RMB 20,000 ($3,000 US) per vehicle.
BYD achieves record new energy vehicle sales in China for Q1 2021, strong 2020 net profit
Chinese automaker BYD has had a strong sales start to 2021, with 53,380 passenger vehicle sales in the first quarter, comprising battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs). That represents a 148 percent increase over the same period last year.
BYD achieves 148 percent increase in NEV sales for Q1 2021
Chinese automaker BYD has had a strong sales start to 2021, with 53,380 passenger vehicle sales in the first quarter, comprising battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs). That represents a 148 percent increase over the same period last year, where 21,520 new energy vehicles were sold.
2020 sales were obviously heavily affected by the COVID-19 pandemic in China, but it’s important to see automakers in China returning to strong numbers, even in what is a traditionally quiet sales period after January’s pre-Chinese New Year sales rush.
March 2021 marks the seventh consecutive month of year-on-year growth for BYD’s new energy vehicle sales, and the company is continuing to innovate, with improvements to its in-house lithium iron phosphate (LFP) ‘Blade Battery’, including the claim of over 3,000 available charge cycles or 1.2 million kilometres from the new cells.
BYD’s revenue and profit soars in 2020
BYD has also posted annual revenue figures for 2020, and despite COVID-19, posted a revenue figure of 156.598 billion yuan ($23.87 billion USD). This represents an increase of 22.59 percent over 2019. Net profit attributable to shareholders also headed for the sky, with a 162.27 percent increase over 2019, to 4.234 billion yuan ($645.349 million USD).
All this despite the company’s 2020 output of new vehicles—including fossil fuel powered vehicles and commercial vehicles—declining 5.08% year over year:
BYD 2020 sales
Total new vehicle sales: 431,954 units (down 5.08%)
Total passenger vehicle sales: 394,608 units (down 3.62%)
Total new energy vehicle sales: 162,893 units (down 12.52%)
Total fossil fuel passenger vehicle sales: 231,715 units (up 3.81%)
Analysts have forecasted that BYD's net profit attributable to shareholders for the first quarter of 2021 is forecasted to reach 200 million to 300 million yuan ($30.482 million to $45.723 million USD), an increase of somewhere between 80 and 160 percent from the first quarter of 2020.
BYD is going from strength to strength, trouncing rivials NIO and Xpeng in sales volume (however both manufacturers also had strong first quarter results, despite lower volumes), and recently announcing a slew of new passenger vehicles for 2021 (which will exclusively use BYD’s in-house ‘blade battery’) and the expected unveiling of a new EV brand in the next few weeks.
The BYD Tang SUV interior. Image: BYD
Source: Gasgoo
Xpeng Teases new Electric Sedan
Chinese automaker Xpeng or Xiaopeng Motors is set to unveil the third model in its lineup after the G3 and P7. The company has announced that the vehicle will utilise LiDAR technology, with CEO He Xiaopeng stating in November that Xpeng will be the first production vehicle to market with the technology.
Image: Xpeng Motors via Twitter
Chinese automaker Xpeng or Xiaopeng Motors, also known as XMotors.ai is set to unveil the third model in its lineup after the G3 and P7. The company has announced that the vehicle will utilise LiDAR technology, with CEO He Xiaopeng stating in November that Xpeng will be the first production vehicle to market with the technology. It’s likely that this will be utilised for various driver assistance systems, rather than for a Tesla-like autonomous Autopilot system. Further detail on specifications will have to wait for the unveil, expected sometime in Q1 2021.
This new model from Xpeng appears smaller than the company’s P7 sedan, and features an interesting front LED light signature, mimicking the Xpeng logo. In China, the P7 sedan starts at a price of 229,900 yuan (US$32,470) after green vehicle subsidies. The company is pushing for rapid growth in the increasingly competitive BEV market, with global expansion on the cards for 2021. In December, Xpeng commenced delivery of the first 100 G3 SUV models to Norwegian customers, at a price of 358,000 NKr (US$41,000).
