Xpeng Prices P7 Sedan Higher In Norway Than Home Turf China As It Takes On Tesla, Nio

Chinese automaker Xpeng Inc XPEV on Wednesday revealed the retail prices of its flagship sedan P7 in Norway, a market where it aims to compete with industry leader Tesla Inc TSLA and fellow Chinese startup Nio Inc NIO.

What Happened: Nio said the P7 variants are available in Norway at a starting price of NOK 447,820 ($53,738) for the RWD variant and goes up to NOK 507,820 ($60,938) for the top-end 4WD version.

XPeng’s P7 goes on sale at a starting price of RMB 229,900 ($36,784) after subsidies, much lower than the prices it has set for the buyers in Norway. 

The electric vehicle maker said the P7 sedans in Norway support XPILOT 2.5 assisted driving system and are equipped with Xmart OS in-car operating system with an English interface and a smart voice assistant.

Xpeng said it has opened 17 local sales outlets and 21 service outlets in Norway in cooperation with its local dealer partners.

See Also: Nio Prices ES8 SUV Lower In Norway Than Home Country China, Unveils Nio House In Oslo

Why It Matters: Unlike Xpeng, homegrown rival Nio had last month, when it unveiled the pricing for its sports utility vehicle ES8 in Norway, said it is following a global pricing strategy.

Nio’s ES8 is priced lower in Norway than the home turf. The sports utility vehicle goes on sale at a starting price of $72,427 in China and about $59,575 in Norway for the standard variant.

Nio, Xpeng and BYD Co BYDDF are among a host of Chinese electric vehicle makers that are eyeing overseas expansion after successfully establishing their brand in home turf. Norway is being seen as a gateway to Europe for these electric automakers.

Tesla and Volkswagen Ag VWAGY have already built a formidable presence in these markets with their electric vehicle lineups. 

Price Action: Xpeng shares closed 1.24% higher at $45.90 a share on Wednesday.

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