than a year ago. The company recently hit 100,000 builds of the M03 as demand for the new model continues to grow in China.
Even before its official launch in China, XPeng began mass production of the MONA M03 in anticipation of high demand for an AI-centric EV model that promised to be affordable. The BEV launched in late August 2024, starting at an ultra-low price of $16,815 – over half that of a Tesla Model 3 in China.
Not sure there’s a big market for it. Remember the “1 million reservations!” We heard about? And the factory that could produce 150,000 of them a year?
In a year, they’ve sold something around 46,000. That’s put it right on the same first year sales figure as … Edsel. Except now there are twice as many drivers.
Man, this was such an unforced error. I give them full props for taking a chance on the styling, but it isn’t nearly as cool as it could have looked. It could have looked awesome instead it looks dopey.
The specs sounded amazing at the price point. But upon launch (which was delayed by a couple years) the specs went down and the price went way up. To no one’s surprise, they weren’t able to convert those reservations into sales. I’m seeing lightly used Foundation Series at about a $45K discount compared to new.
AFAIK, you still can’t buy the base model they promised.
Even if the Cybertruck was an “unforced error” it was not a total waste. Steer by wire, 48 volt electrical system, and other innovations for the new models coming out. Tesla is reinventing how to build automobiles. A century was a good run for the assembly line.
For the first quarter of 2025, XPeng delivered 94,008 Smart EVs, a 331% increase over last year.
Of the 371,419 passenger vehicles BYD sold in March, 166,109 were EVs, and the other 205,310 were PHEVs. Combined, BYD’s sales were up 23% compared to last year.
Through the first three months of 2025, BYD sold over one million (1,000,804) NEVs. That’s up 60% from the 626,263 sold in Q1 2024. Fully electric models accounted for 416,388 while PHEV sales reached 569,710, an increase of 39% and 76% from last year, respectively.