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HONG KONG: Chinese electric vehicle maker Xpeng Inc is bringing a sports utility vehicle and minivan to Hong Kong as it ramps up a global expansion to boost sales.
Both the G6 electric SUV, which will retail from HK$299,900 (US$38,400) with trade-in, and the X9 minivan will be delivered to the Asian financial hub in the second half of this year, the company said Friday.
The cars will be equipped with a new generation of its voice control system that will recognise Cantonese, the most commonly used language in Hong Kong.
The event in Hong Kong, one of Xpeng’s few right-hand drive markets, follows the launch of the G9 and G6 in France on Thursday, its 10th European market.
“Hong Kong is very important to us,” Xpeng co-President Brian Gu said, noting the city had been his home for two decades. “Embracing the Hong Kong market is something we’ve always wanted to do because we got a lot of support from Hong Kong, we’re listed in Hong Kong and a lot of our earlier investors are based in Hong Kong.”
Xpeng’s push comes at a delicate time for Chinese carmakers. At home, a fierce price war — which has already seen the company cut the price of its G6 in mainland China to 179,900 yuan (US$24,900) with discounts — is eating into the bottom line and economic headwinds are weighing on consumer sentiment.
Meanwhile, efforts to export vehicles face a growing list of challenges after the US quadrupled import tariffs on Chinese EVs and the European Union mulls additional duties as part of a probe in the Asian nation’s subsidies for the sector.
When asked about the EU investigation, Gu said the company was monitoring the situation and will be prepared for any outcome. He also said that the 102.5% tariffs imposed on Chinese EVs by the US will hurt the latter’s own energy transition and, as one of the biggest auto markets in the world, there has to come a day when it’s open.
The cutthroat Chinese market has driven automakers to combine forces to eke out market share. Xpeng has a partnered with Volkswagen on technology and will jointly develop two new EV models for the China market based on Xpeng’s automotive platform.
Separately, Xpeng last year acquired Chinese ride-hailing giant Didi Global Inc’s smart-car development arm and is set to launch the ‘Mona’ sub-brand this year.
Also on display in Hong Kong, albeit with no plans to be made as a mass market product, was the company’s X2 eVTOL flying car. The craft can fly up to a height of 1km and its battery can last about 35 minutes. The company is working on a next generation model.
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