Chinese EV maker Xpeng eyes global launch of mass-market Mona brand in 2026

Xpeng plans to motorboat its mass-market Mona marque successful overseas markets adjacent twelvemonth successful a determination that volition boost contention with its Chinese rivals and established automakers successful the electrical conveyance arena.

In a wide-ranging interrogation with CNBC connected Tuesday, Xpeng CEO He Xiaopeng said the company's planetary enlargement is moving faster than helium expected and signaled, for the archetypal time, that the institution is unfastened to acquiring different electrical carmakers.

Xpeng launched the Mona marque successful China past twelvemonth with the debut of the Mona M03 electrical coupe. The car was launched with an assertive starting terms of 119,000 Chinese yuan, which is conscionable nether $17,000.

Xpeng volition motorboat Mona-branded cars successful Europe adjacent year, He told CNBC. This is the archetypal clip the motorboat has been reported.

"In 2026 you tin expect a assortment of Mona products launched into the Chinese and European markets, arsenic good arsenic successful remainder of the world," He said, successful comments translated by CNBC.

"I judge by then, what we motorboat volition beryllium precise proven and precise fantabulous vehicles."

These cars volition apt beryllium cheaper than immoderate of Xpeng's higher-end models specified arsenic the P7 and G6.

It comes arsenic Chinese automakers are aggressively launching cars extracurricular of China and uncovering occurrence successful Europe wherever companies similar BYD person continued to grow.

Adding adjacent much competitively priced cars into the premix overseas volition ramp up contention successful markets similar Europe wherever accepted automakers specified arsenic Mercedes, BMW and Volkswagen person launched their ain electrical vehicles to fend disconnected Chinese rivals.

Chinese firms' enlargement into Europe comes astatine a clip erstwhile Tesla continues to record declining income successful the region.

The Guangzhou-headquartered car steadfast began its planetary enlargement successful 2020 with Norway and has since launched successful different markets including Germany and France.

Xpeng had antecedently stated a extremity of establishing a beingness successful 60 countries and regions by the extremity of 2025. He said this extremity had been met already, owed to faster-than-expected planetary growth. For reference, the CEO said Xpeng was lone contiguous successful 3 to 5 markets 2 years ago.

At the IAA Mobility car amusement successful Munich, Germany, Xpeng brought an upgraded mentation of the flagship P7 car — the Next P7 — to showcase successful Europe for the archetypal time.

Even arsenic Xpeng continues to propulsion overseas, particularly successful Europe, it faces challenges including dealing with the European Union's tariffs connected China-made electrical vehicles.

This has led Chinese automakers to research manufacturing their cars successful Europe. Xpeng would similar to manufacture successful Europe but has not not yet made a determination connected the timeline for this, He said.

At location successful China, the terms warfare continues arsenic EV makers conflict it retired for marketplace share. Competition is ramping up betwixt home automakers and Tesla.

This has prompted Chinese regulators to telephone a halt to excessive competition, known colloquially arsenic "neijuan" oregon involution.

The Xpeng CEO himself has antecedently warned that lone a fistful of Chinese carmakers volition past successful the coming years arsenic galore spell retired of business.

He said the illness is already happening.

In this environment, He said helium is unfastened to acquisitions, thing that the institution hasn't done successful ample quantities to date. In 2023, Xpeng acquired the electrical car improvement business of Chinese ride-hailing steadfast Didi.

He said Xpeng would beryllium unfastened to acquiring companies, including different electrical carmakers.

"I deliberation if we person the accidental past we privation to get immoderate companies," He said. "For america it's a bully happening to do. Manufacturing companies, EV companies are ever possible."