Xpeng launches budget EV for under US$17,000

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Chinese electric vehicle manufacturer Xpeng launched a series of budget models equipped with preliminary autonomous driving systems on August 27, 2024. The Mona M03 cars are priced from 119,800 yuan (US$16,800) and can travel at least 515km (320 miles) on a full charge. Buyers praised the model for offering performance similar to higher-cost cars and some sales staff at the company said they hope the new vehicles will appeal to younger buyers. The model is expected to compete with cars made by another Chinese manufacturer BYD, currently the world’s largest EV maker.

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