Xpeng has announced a strategic partnership with DiDi Global, which will spawn a family of affordable electric vehicles that cost around ¥ 150,000 (US$ 20,573 / £ 16,327 / € 19,031). Details are limited, but the company will target mass market consumers with an all-new EV brand that is “currently being developed under the project name Mona.” Xpeng says the mainstream segment has “enormous market potential” and will help them grow sales as well as achieve greater economies of scale.
The brand’s first model will arrive in
2024 as an “A-class Smart EV.” The company noted it will be “differentiated
from Xpeng-branded products” and benefit from DiDi’s mobility ecosystem. That’s
pretty vague, but DiDi is a bit like Uber as it offers ride-hailing services as
well as food delivery in a number of markets.
The Mona lineup will eventually expand as
other electric vehicles are slated to follow. The exact timing remains unclear,
but they’ll also be priced around ¥ 150,000. As
part of the tie-up, Xpeng will acquire the assets related to DiDi’s Smart EV
project, while DiDi will become a strategic shareholder in Xpeng. Both
companies will also “explore strategic cooperation in a number of areas,
including marketing, financial and insurance services, charging, robotaxi, and
international market expansion.”
