The X9 is the highest-priced in Xpeng‘s product lineup and is seen as helping Xpeng improve gross margins.
(Image credit: Xpeng)
Xpeng (NYSE: XPEV) has begun scale deliveries of its X9 MPV (Multi-Purpose Vehicle) in China, following the model’s official launch on January 1.
The electric vehicle (EV) maker announced the development today on Weibo, where it shared several images showing delivery ceremonies in several cities including Guangzhou, Hangzhou, Shenzhen, and Chongqing.
Xpeng did not reveal any more information about the first deliveries of the X9, including the number of cars delivered.
The X9 was unveiled and went on pre-sale on the first day of the Guangzhou auto show on November 17, 2023, and was officially launched on January 1.
With a starting price of RMB 359,800 ($50,090), the model is the most expensive in Xpeng’s product array and is seen to boost the company’s gross margins.
The X9 is the flagship model under Xpeng’s SEPA (Smart Electric Platform Architecture) 2.0 architecture and will be the first large seven-seater to break the boundaries of MPVs, the company previously said.
The Xpeng X9 comes in four variants with starting prices of RMB359,800, RMB379,800, RMB399,800 and RMB419,800 respectively.
It offers two Pro versions, both single-motor models with CLTC ranges of 610 kilometers and 702 kilometers, respectively.
It offers two Max versions, including a single-motor version with a CLTC range of 702 kilometers and a dual-motor four-wheel drive version with a CLTC range of 640 kilometers.
Compared to the Pro versions, the Max versions have two LiDARs, which enable the use of the XNGP (Navigation Guided Pilot) full-scenario assisted driving feature.
“Financially, X9 provides a lift to not only volume but also gross margin as it will be the most profitable vehicle in the line-up,” Deutsche Bank analyst Edison Yu’s team said in a research note sent to investors on January 3.
Xpeng delivered a record 20,115 vehicles in December, the third consecutive month above the 20,000-unit mark, bringing full-year 2023 deliveries to 141,601 vehicles, according to figures it released earlier this month.
By the end of 2023, Xpeng’s cumulative deliveries since inception stood at 400,311 units, according to data compiled by CnEVPost.
($1 = RMB 7.1835)
X9 set to lift Xpeng’s volume and gross margin, says Deutsche Bank
