Xpeng names Mona series debut model M03, releases 1st official image

Xpeng calls the first model in the Mona lineup the Xpeng M03 and unveils the first official image of the model.

Xpeng (NYSE: XPEV) today unexpectedly unveiled the name and an official image of the first model from the sub-brand codenamed Mona, ahead of its official launch later this month.

The first model in the Mona lineup is called the Xpeng M03, according to a Weibo post from the company today.

Notably, the model’s naming seems to be continuing to use the Xpeng brand, which is somewhat confusing.

Xpeng today released the first official image of the M03, showing what appears to be a compact electric sedan.

In announcing its acquisition of ride-hailing giant Didi Global’s electric vehicle business on August 28, 2023, Xpeng said it planned to launch the new brand in 2024 under the code name Mona.

The first model of the Mona program will be an A-class smart electric model to be launched in 2024. The new model and brand will be distinct from the Xpeng branded products and the main brand, it said last year.

Didi will support the Mona project with its mobility ecosystem and will pave the way for Xpeng to build a mass-market RMB 150,000 ($20,680) price segment smart electric model, according to a statement from Xpeng last year.

On May 20, Xpeng’s chairman and CEO said at an AI Day event that Mona’s first model would debut in June.

On May 21, Xpeng management said in an earnings call that Mona’s first model will be unveiled in June and will be available and begin deliveries in the third quarter.

Xpeng believes the Mona would be a superstar product in the A-class all-electric market, the company said.

Mona will reportedly use BYD (HKG: 1211, OTCMKTS: BYDDY) batteries, as will Nio‘s (NYSE: NIO) Onvo sub-brand.

Battery suppliers for the Mona’s first model include BYD, which has a range of more than 500 kilometers, local media outlet 21jingji said in a May 14 report, citing people familiar with the matter.

($1 = RMB 7.2530)