Xpeng Launches Low-Priced EV in China, Intensifying Competition for Tesla!

Chinese electric vehicle maker Xpeng has launched its new Mona M03 EV, offering a significant challenge to Tesla in the highly competitive Chinese market. The base model of the M03 is priced at 119,800 yuan ($16,800), nearly half the cost of Tesla’s Model 3, which starts at 231,900 yuan ($32,500) in China. The lineup includes a “Max” version with autonomous driving features, priced at 155,800 yuan ($21,900).

As Tesla continues to face fierce competition from local rivals like Xpeng, which match Tesla’s tech-heavy vehicles at lower prices, the U.S. automaker’s dominance in the world’s largest EV market is under pressure. Xpeng’s M03 joins a crowded market alongside other competitors like Xiaomi’s SU7 and BYD’s Seal sedan, all of which have seen price cuts.Adding to the competition, premium EV giant Nio is set to launch its affordable Onvo brand, directly targeting Tesla’s Model Y. With the potential launch of Tesla’s Robotaxi in China, Elon Musk is betting on new innovations to maintain Tesla’s edge, but the outcome in this cutthroat market remains uncertain.