Another affordable electric car joined the growing options for budget-friendly vehicles. M03 is Xpeng's first venture in electric vehicle market. It is sold under the MONA brand.

Xpeng: MONA Launches M03

Brands that claim to offer the most budget-friendly or affordable electric cars should look at M03. Xpeng offers M03 under its MONA brand. One of the notable things about this EV is its batteries.

M03's batteries are powered by BYD. Electrek shared details about this latest EV. The report was shared just over a week before the highly anticipated public debut of XPeng Motors' latest AI-focused electric vehicle brand, MONA; the company has enticed social media followers with an early sneak peek.

The upcoming sub-brand MONA, short for "Made of New AI," reflects XPeng's dedication to advancing AI technology in the realm of smart driving. This strategic move aligns with Chairman and CEO He Xiaopeng's ambitious pledge to allocate significant resources towards AI-driven innovations, including a substantial investment and plans for expanding the company's workforce.

The report highlighted the pivotal role of AI-driven innovations in the evolution of XPeng Motor's recent vehicle releases. The company is poised to elevate this technology to new heights with the MONA brand. XPeng's commitment extends beyond technological advancements.

It includes a promise to appeal to a broader audience by offering MONA BEVs at affordable prices ranging from approximately RMB 100,000 to 150,000 ($14,000 to $21,000).

Xiaopeng shared during the announcement of the sub-brand's name that its official launch is scheduled for June 2024, with a confirmed date set for the 20th.

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More About M03

The M03, the latest sedan from Xpeng's MONA, boasts many features, including advanced driver assist. Its BYD batteries provide a range up to 300 miles or 500 km. JustAuto's report shared that Xpeng's strategic move to leverage the Mona brand for bolster its market presence and sales figures, focuses on both budget-conscious buyers and the commercial sector.

The rollout of this brand, scheduled for July, will coincide with the unveiling of Xpeng's product lineup and business expansion plan. As reported by CarBuzz, this compact sedan boasts superior aerodynamics compared to well-known electric models like the Lucid Air, Mercedes EQS, and Tesla Model S.

With an expected starting price of approximately $20,700, the Mona M03 is anticipated to offer two distinct drivetrain options. The base model will be powered by a 188-horsepower electric motor, while a higher-tier version will deliver 215 hp. Notably, the vehicle will utilize lithium iron phosphate blade batteries from FinDreams, a subsidiary of the renowned automotive company BYD -Build Your Dreams.

Despite modest power outputs, the Mona M03 stands out for its remarkably lightweight design within the electric vehicle segment. CarBuzz expressed disappointment, highlighting the unmet need for accessible electric vehicles among American consumers. This barrier underscores the challenges in expanding affordable EV options globally.

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