Xpeng (NYSE: XPEV) received more than 20,000 firm orders for the Mona L03 within 7 minutes of its launch in China, signaling that the low-priced SUV (sport utility vehicle) quickly ignited demand.
The Chinese electric vehicle (EV) maker announced the order figure Thursday on its official Weibo account and thanked customers for their support.
Xpeng held the global launch event for the Mona L03 in Munich, Germany, earlier today. The model is offered in 9 variants in China, with prices ranging from 123,800 yuan ($18,300) to 156,800 yuan.
The official starting price is 20,000 yuan lower than the pre-sales price of 143,800 yuan announced on July 2. The more aggressive pricing appears to have accelerated order accumulation, helping Xpeng quickly build scale in the highly competitive mass-market SUV segment.
The Mona L03 is available in both battery electric vehicle (BEV) and extended-range electric vehicle (EREV) versions, extending Xpeng’s dual-powertrain strategy.
Both powertrain options start at 123,800 yuan in China. In Europe, the L03 has a starting price of 35,600 euros ($40,770).
In China, the Mona L03 will compete with compact SUVs including BYD’s (HKEX: 1211) Yuan Plus, Leapmotor’s (HKEX: 9863) C10 and other similarly priced models.
The SUV is Xpeng’s first global model to launch simultaneously in China and Europe. It will eventually be sold in 64 overseas markets.
Xpeng is seeking to differentiate the model from rivals that emphasize range or value for money through its design, powertrain choices and computing capacity for assisted-driving systems.
The BEV version offers CLTC ranges of 525 kilometers and 625 kilometers. The EREV version is equipped with a 37.2-kWh battery, providing a CLTC battery-only range of 315 kilometers and a combined range of as much as 1,330 kilometers.
Assisted driving is another area where Xpeng is seeking to establish an advantage. Every Mona L03 comes with the company’s in-house-developed Turing AI chip.
The Max variants use 1 chip with computing power of 750 TOPS and are equipped with a distilled version of Xpeng’s second-generation VLA (Vision-Language-Action) system. The Ultra SE variants use 2 chips with combined computing power of 1,500 TOPS, supporting a more fully featured version of the second-generation VLA system.
That means Xpeng is bringing assisted-driving hardware previously found mainly in higher-priced vehicles to the mass market at around 150,000 yuan.
The Mona L03 is also part of Xpeng’s effort to expand its European business. The company has established a European research and development center in Munich and started localized production in Austria.
Xpeng said it is working with more than 150 dealers to expand in Europe and plans to build more than 1,000 company-operated supercharging stations across 13 European countries.
Xpeng also announced that its overseas models will integrate the Google Maps Auto SDK, with the Mona L03 becoming the first to adopt it. Google Maps data services will also support Xpeng’s NGP (Next Generation Pilot) and Xpilot Assist systems.
The Mona L03’s strong start comes as Xpeng’s sales begin to recover. The company delivered 40,126 vehicles in June, up 15.9% from a year earlier and the highest monthly total so far in 2026.
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The Mona series has already demonstrated that lower-priced products can significantly broaden Xpeng’s customer base. The series’ first model, the Mona M03 sedan, delivered 175,689 units in 2025, accounting for about 41% of the company’s annual deliveries.
Deutsche Bank analysts previously estimated that the Mona L03 could achieve average monthly sales of about 12,500 units, potentially replicating the Mona M03’s performance in the early stages after its launch.
($1 = 6.7688 yuan, $1 = 0.8733 euros)
