Xpeng introduces new AI-based brand

The M03 electric saloon, which will cost between £12,000 and £17,000, but when will it arrive in Europe?

By: Francesco Barontini

Jun 13, 2024 at 3:32am ET

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A few months ago, Xpeng was going through a worrying financial crisis. Today, the Chinese company seems to have put the storm behind it and, instead, is embarking on an ambitious expansion plan, which includes debuts in new markets (by the end of the year, (it will also be on sale here) and the launch of a new brand: Mona.

The brand will be officially launched in a few days' time, on 20 June to be exact, but the company has already published a great deal of information about it. Let's take a look at what's in store.

Artificial intelligence is the basis

First of all, the name: Mona or rather MONA, is an acronym for 'Made of New AI'. That already explains a lot. He Xiaopeng, CEO and chairman of Xpeng, had said that he would invest around €450 million to develop next-generation cars based on artificial intelligence, on which a team of around 4,000 people is working. These Mona cars, which will obviously be entirely electric, will rely on AI in several respects.

Xiaopeng himself presented the new brand and, in doing so, declared that this new family of electric cars will be very advanced, but not unaffordable. In China, it could be sold for between €15,000 and €20,000 (approx. £12,000 and £17,000). Looking at the photos of the first model of the new brand, the M03 saloon, we wonder how this is possible.

We're expecting it in Europe too

One of the doubts that we hope will be resolved on 20 June is the final name. On Weibo, the company talks about Xpeng M03. But then, where is the Mona brand? More importantly, will the car be sold in Europe? The answer to that question is: probably yes.

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Having made its debut in some Northern European markets, Xpeng is looking to consolidate its presence on the Old Continent and, by the end of 2024, should be making its debut in a number of key countries. There, it will bring a good proportion of the cars it currently has on the market, a range that is ready to be completely renewed, given that the intention is to launch 30 new models and updates by 2027.

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