Xpeng saw the 500,000th production vehicle roll off the line, which was the 10,000th production car of the Mona M03 launched on August 27.
Xpeng (NYSE: XPEV) saw its 500,000th production vehicle roll off the assembly line, as the Mona array's first model, the M03, was well received after hitting the market.
The Chinese electric vehicle (EV) maker announced the milestone on Weibo today, saying the car is the 10,000th Mona M03 production vehicle.
The Mona M03 saw its 10,000th unit roll off the production line 22 days after its launch, setting a new record among the new Chinese carmakers, Xpeng said.
Xpeng delivered 14,036 vehicles in August, bringing cumulative deliveries since inception to 477,520, according to data compiled by CnEVPost.
The delivery of the 500,000th vehicle will take some more time, given factors including logistics.
Xpeng officially launched the Mona M03 electric sedan on August 27, offering three variants with starting prices of RMB 119,800 ($17,000), RMB 129,800 and RMB 155,800, respectively.
The model becomes the least expensive of Xpeng's on-sale models, at about half the price of the Tesla (NASDAQ: TSLA) Model 3.
Deliveries of the Mona M03's two lowest-priced variants have already begun, while deliveries of the highest-priced Max variant will start after the Chinese New Year holiday in late January to early February 2025.
The Mona M03 is the fastest production-climbing new model in Xpeng's history, He Xiaopeng, the company's chairman and CEO, said on September 14 on Weibo.
In September, the Mona M03 is expected to break the first-month delivery record for a new model by a new Chinese carmaker, he said.
Xpeng Mona's production capacity had been expanded twice in the past 10 days, Mr. He said at the time.
Following 30,000 locked-in orders for the Mona M03 in the 48 hours since its launch, orders for the model had recently exceeded 2,000 units a day, Xpeng said in a letter to suppliers earlier this month.
($1 = RMB 7.0452)
Xpeng Mona M03 capacity expanded twice in last 10 days, CEO says
