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Reuters

China’s Xpeng prices its first budget EV from $16,813

BEIJING (Reuters) -Chinese electric vehicle maker Xpeng priced the first model of its budget sub-brand MONA from $16,813 on Tuesday, wedging into the mainstream but highly competitive segment of the world’s largest auto market. The MONA M03 electric hatchback coupe is Xpeng’s most affordable model and will compete with other EVs priced in the 100,000-150,000 yuan ($14,035-$21,052) range, which accounts for a third of total car sales in China. There will be two versions of the MONA M03: an entry-level one without advanced autonomous driving technology available from $16,813, and the M03 Max that uses Tesla-like technology and is priced from $21,866.