Electric-car maker Xpeng shrugs off concerns Tesla’s steeply discounted Model Y will win over mainland Chinese drivers
- CEO says he is confident the smart features of Xpeng’s cars will keep it competitive, particularly after strong fourth-quarter sales
- Several market watchers and analysts have warned that a more than 30 per cent cut in the price of the Model Y could eat into the market share of mainland rivals
He Xiaopeng, founder and chief executive of the Shenzhen-based electric vehicle (EV) start-up, suggested that the smart features of Xpeng’s cars would give it the competitive edge it needs against other players.
“We are confident of the unique smart features of our products,” He said in a statement sent to the South China Morning Post on Monday to address queries about heightened competition in light of the Model Y’s launch. “The record delivery numbers [in the fourth quarter] reflect our strong product competitiveness and increasing brand appeal.”
On New Year’s Day, Tesla announced that the long-range version of its Model Y would start from 339,900 yuan (US$52,588), down from 488,000 yuan six months ago when presale orders could first be placed.