XPeng Confirms LFP-Powered P7 Sedan Model; February Deliveries Slow Amid Chinese New Year Holidays

Chinese EV maker XPeng Inc. XPEV confirmed media reports regarding new low-priced versions of its vehicle line-up, armed with lithium phosphate battery. Separately, the company reported a sharp month-over-month decline in deliveries.

XPeng's LFP Battery Version Vehicles: XPeng will soon launch new versions of the P7 sedan and the G3 SUV with LFP-powered batteries, a company spokesperson confirmed to Benzinga.

The new battery will be available for the rear-wheel-drive version P7 sports sedan and will have an NEDC range of 480 kilometers.

Meanwhile, the currently available version of the P7 sedan, powered by ternary lithium battery pack, has a maximum range of 706 kilometers.
Specific pricing for the new versions will be announced soon, the company said.
XPeng also said the new version will be equipped with the latest Xmart OS intelligent in-car operating system with the XPILOT 2.5+ and XPILOT 3.0 autonomous driving assistance system.

Related Link: How to Buy XPeng Motors (XPEV) Stock

The company also contemplates launching a new G3 version with LFP-powered batteries. Based on the original G3 460i version, the new version has the same driving range of NEDC 460 kilometers, with low-drag wheels, the company said.
With these two new versions expanding the range of XPeng product offering and the pricing range as well, they will efficiently address different customer demand from China's vast and variant geographies, it added.
The company expects to begin the delivery of the new versions equipped with LFP batteries in the second quarter of 2021.

Setback In February: Announcing its monthly deliveries statistics, XPeng said it sold 2,223 cars in February, down 63% from the record performance in January, when it delivered 6,015 vehicles.

In February, the company delivered 1,409 P7s and 814 G3s.

"February deliveries reflect the anticipated seasonal decline in deliveries due to the slowdown in the week-long Chinese New Year holiday," XPeng said in a statement. The company added that it is witnessing robust customer demand as sales and delivery activities resumed after the holiday.

After seeing volatility in February amid the tech sector-led sell-off, XPeng shares recovered Monday, ending 4.08% higher at $35.50.
Related Link: XPeng Teases New Sedan With Lidar Technology

Photo courtesy: Jengtingchen via Wikimedia