Will Xpeng's X9 Disrupt EV Industry? Co-Chairman Thinks It Will Be A 'Game Changer'

Brian Gu, Vice Chairman and Co-president of Chinese electric vehicle (EV) giant XPeng Inc. XPEV, expressed his optimism with the newly launched X9 model, touting it as a potential “game-changer” for the industry.

What Happened: As CNBC reported, the X9, an EV with seven seats, was launched on Jan. 1, employing the SEPA2.0 architecture for the Chinese market. The vehicle is priced between 359,800 yuan ($50,360) and 419,800 yuan ($58,760), with deliveries commencing immediately.

“For X9, we actually anticipate this to be a game-changer for the battery electric vehicles segment for MPVs (multi-purpose vehicles),” Gu said in an exclusive interview with CNBC.

He added, “We believe this could be the top seller in its category … because I think it has some very innovative technology and design as well as superior handling, industry-leading smart driving technology – packed into a very beautifully designed product.”

See Also: Tesla Model Y Is Bestselling Electric Vehicle Of All-Time, Passing A Record Previously Held By The Musk-Led Company

XPeng’s X9 launch coincides with other Chinese EV players, including Nio NIO, Huawei, and Zeekr, introducing new electric vehicles. Even consumer electronics company Xiaomi is set to enter the market with its first EV.

XPeng also has plans to roll out driver-assist technology in China by the end of 2023 and in Europe by the end of 2024.

Why It Matters: XPeng has been witnessing steady growth in the EV market. In November 2023, the company set a new monthly delivery record of 20,041 vehicles, marking a 245% increase year-over-year.

However, the company’s stocks took a hit in December when Alibaba announced plans to sell off a significant portion of its shares in the company, coinciding with a downturn in the Hong Kong stock market.

Image via Shutterstock

Read Also: China’s Bold New Energy Strategy: NEVs To Provide Tens Of Millions Of Kilowatts To The Grid

Photos courtesy: Xpeng