XPENG Expands with 5 New EREV Models, Targets Higher Sales

XPENG Plans 5 New EREV Models to Boost Market Reach

According to Chinese local media 36Kr, XPENG has at least 5 EVER models in planning. The 5 models covers both sedan and SUV, including two EREVs of the existing models P7 and G6.

XPENG’s first EREV model, probably with the name of G9, might be built based on X9, the deliveries is to start in H2 2025. Other models are expected to launch in 2026 and 2027.

EREV variants will be a plus for all XPENG models, which will help XPENG targeting a totally different user group who are preferring EREVs both in and out China.

EREV Technology and XPENG's Strategic Vision

XPENG is serious on this. As early as the end of 2022, XPENG has already discussed the EREV route internally, though the future of EREV was unclear, XPENG chose to launch affordable cars, which is MONA brand finnaly.

But things changed in 2024, as EREV models receiving more and more sales, such as Li Auto, AITO, and Leapmotor, XPENG decided to expand to EREV technologies. Last November, XPENG announced its entry into EREV vehicle manufacturing by the launch of its Kunpeng Super Electric System integrated both Kun Super Extended Range System and Peng All-electric System.

Innovative Features of Kunpeng Super Electric System

According to the company, the Kun Super Extended Rage System is based on an 800V high-voltage SiC (Silicon Carbide) platform, featuring a 5C supper charging AI battery, hybrid SiC coaxial electric drive, a quiet range extender (with an operating noise level of only 1dB), as well as an AI battery doctor and AI power functions. The system enables the vehicle to have a pure electric range of 430 km, with a total range exceeding 1,400 km.

XPENG’s Recent Performance and Financial Metrics

XPENG performed well in sales recently months. According to market data, XPENG sold 30,895 units, 36,695units, 30,350 units, and 30,453 units in November 2024, December 2024, January 2025, and February 2025, respectively.

Recently, XPENG released its 2024 Q4 and full year financial report, with multiple financial metrics exceeding expectations. 2024, XPENG achieved a total revenue of 40.87 billion yuan, up 33.2% year-over-year. The full-year gross margin was 14.3%, an increase of 12.8% year-over-year.

Future Sales Projections and Investor Sentiment

As a positive prospect on sales, XPENG is expecting double its sales in 2025 compared to 2024 (sales volume: 190,068 units), that is exceeding 380,000 units. However, in the light of XPENG’s latest Q4 and full year results, investors are more positive. Deutsche Bank set an expectation of 480,000 units sold by XPENG IN 2025, and has raised XPENG’s target price from HKD 73 to HKD110, with a “Buy” rating assigned.