XPeng wants to catch the "great fortune"

Author | Wang Xiaojun

Editor | Zhou Zhiyu

XPeng's pace has never been as fast as it is now. Less than three months after the release of its last new car, XPeng has launched another new vehicle.

On November 7, the XPeng P7+ was officially launched, with a starting price of 186,800 yuan. This car was unveiled a month ago and began pre-sales at the Paris Auto Show.

In addition to the pace, what has amazed the outside world is XPeng's ability to replicate blockbuster success. As of 24:00 on November 7, the P7+ had received 31,528 orders, causing the backend system to be overwhelmed at one point.

The popularity of the XPeng P7+ has given investors a glimpse of XPeng's transformation, leading to higher expectations for its future performance. On November 8, XPeng's Hong Kong stock surged over 20% at one point, closing up more than 14.7%.

In its quest to replicate blockbuster success, XPeng seems to have found the secret. With a stunning appearance, solid range, and XPeng's expertise in intelligent driving capabilities, combined with a highly competitive price, the P7+'s explosive sales post-launch can be attributed to a variety of factors.

As a pure electric sedan with C-class space, an 800V architecture across the entire lineup, and standard high-level intelligent driving features, the starting price of 186,800 yuan for the P7+ is indeed very competitive in the current market.

Currently, representative models of pure electric coupes in the 200,000 yuan range include Xiaomi SU7, ZEEKR 007, ZhiJi L6, and others. However, the most competitive remains the Xiaomi SU7, while the "cost-performance ratio" of the current XPeng P7+ even surpasses that of the Xiaomi SU7.

The starting price of the Xiaomi SU7 is 215,900 yuan, and this version has a range comparable to the long-range version of the XPeng P7+. However, in comparison, the XPeng P7+ offers more space, a lower price, and more mature intelligent driving features, with many small functions standard across the entire lineup, and it is also built on an 800V platform for faster charging.

However, when He Xiaopeng was asked about the competition with the SU7, he stated that he has never viewed the Xiaomi SU7 as a competitor, but rather believes that the two are "friendly forces" developing in different directions.

For consumers who are new to the new energy sector, solid range is key to impressing them. Typically, intelligent driving is often the focus of XPeng's launch events; however, this time, range was also highlighted as one of the key discussion points.

This time, the XPeng P7+ achieved CLTC ranges of 602 km and 710 km with battery packs of 60.7 kWh and 76.3 kWh, respectively. This achievement is only the current standard. In December, the P7+'s range will undergo an OTA update, which will add another 13 km. In comparison, the standard version of the Xiaomi SU7 uses a 76.3 kWh battery pack to achieve a CLTC range of 700 km.

To achieve longer range with a smaller battery, the XPeng team has meticulously managed energy consumption details.

XPeng Chairman and CEO He Xiaopeng revealed that the P7+ team employed over 20 technologies to refine energy consumption management, such as using frameless rearview mirrors, integrated front and rear die-casting for vehicle lightweighting, and active oil cooling technology, each optimizing range by as little as 0.6 km to as much as 13 km.

This year, He Xiaopeng frequently tested the new car's range, driving until the range was finally exhausted, and together with colleagues, pushed the car to demonstrate XPeng's solid range and energy consumption management On the other hand, the spaciousness is also one of the highlights of this car. He Xiaopeng has emphasized that the mission of the P7+ is to allow more people to enjoy the space and comfort of a "luxury executive sedan." XPeng is now also eyeing the '56E', and during the launch event, He Xiaopeng repeatedly used the Audi A6L as a benchmark when mentioning specific metrics.

In terms of dimensions, this car measures 505619371512mm in length, width, and height, with a wheelbase of 3000mm, which is standard C-class sedan size. However, internally, XPeng has optimized various details to achieve an 88% usable floor area.

To enhance space, XPeng chose to move the A-pillar forward and hide and shift the C-pillar backward, while also adopting a dual-layer rear wing design to make the rear space more spacious. He Xiaopeng mentioned that when he sits inside the car, there is still space for two fists above his head.

Additionally, the XPeng P7+ comes standard with advanced intelligent driving features across the entire lineup, with no distinction between Pro and Max versions, meaning no extra options, fees, or subscriptions are required; users can use the highway and urban NOA functions right after purchasing the vehicle.

Besides the standard advanced intelligent driving features, the XPeng P7+ also comes equipped with a panoramic sunroof, front and rear seat ventilation, heating, and massage functions, as well as rear seat small tables, making the entry-level model even more appealing.

Moreover, He Xiaopeng has learned a lot from Lei Jun about user-oriented demands. The XPeng P7+ has become detail-oriented, with features like hooks and phone storage slots included, even considering scenarios with foldable phones and multiple devices.

The XPeng P7+ is the first model after XPeng's cost reduction in technology and marks the beginning of XPeng's next decade. Its competitive price and performance in the same price range lay a solid foundation for its upcoming popularity.

However, even with the successful persona of a hot seller, the industry still holds its breath for XPeng.

At the start of the XPeng P7+ launch event, He Xiaopeng apologized to the owners of the MONA M03, stating that XPeng has already fallen behind on many deliveries.

In the past three months, XPeng has increased production capacity three times. Although over 10,000 units were delivered in the first month, many vehicles are still delayed by about a month. He Xiaopeng mentioned that in the next two months, XPeng will continue to increase production capacity, expecting a 30%-40% increase.

Currently, the popularity of the XPeng P7+ has surpassed that of the MONA M03, which opens up possibilities for XPeng's future scale but also adds pressure to deliveries.

In the past, the XPeng G6 experienced a shortened overall sales cycle due to delivery issues, and sales quickly returned to a flat state. For the MONA M03, XPeng stated that they had prepared sufficient production capacity, but delivery delays still occurred, which would affect the overall sales cycle.

In handling this issue, XPeng's approach has become more mature. For the P7+, XPeng learned from the lessons of the MONA M03, and on the night after the launch event, He Xiaopeng held an overnight meeting with executives to discuss production capacity issues and planned a fourth increase in capacity.

Perhaps, overcoming delivery challenges, XPeng still has the potential to achieve significant scale and surpass more integer delivery milestones. XPeng is gradually emerging from past disappointments, showcasing a new posture, and may still become one of the future automotive giants