- Xpeng has revealed pricing for its budget EV, released under its MONA sub-brand.
- Called the MONA M03, the compact hatchback-coupe will start at 119,800 RMB ($16,819 / £12,710) once it hits the Chinese market in the first months of next year.
- Prices will rise to just under 200,000 RMB ($28,000 / £21,220) for a variant called the M03 Max, which will pack autonomous driving features.
New budget EV headed only for China, so far
From the outside, it certainly doesn’t look like a budget EV, with a Polestar-esque look to its design, and a sleek body shape which also helps keep drag down. Even the entry level model still has a range of 515km (320 miles), paired with a 187hp single electric motor setup. Batteries are supplied by BYD, while standard equipment includes a full-length glass roof, and an 18-speaker sound system.
The MONA M03 could take a chunk of the Tesla Model 3 market share, which starts at 231,900 RMB ($32,558) in China, by offering consumers a similar package, albeit with a less powerful electric motor setup, for a much lower price. The lengths of both cars are nearly identical, and the same is true for boot space – 594 litres on the Model 3, and 621 litres on the M03.
Xpeng has not said either way whether its MONA sub-brand will be headed to other regions calling out for cheaper EVs, particularly Europe. However, with Xpeng reportedly looking to build a manufacturing facility within Europe, to skirt around the recent European Union tariffs on China-produced EVs, it’s a space to watch.
