XPeng launches the MONA M03 in China at over half the price of a Tesla Model 3 ($16,815)

When XPeng Motors announced its new MONA line of AI-centric BEVs, it said it was gunning for the Tesla in China. After officially launching its first MONA model, the M03, in China today, XPeng is coming out with guns blazin’, announcing a starting price of  RMB 119,800 ($16,815). That’s over half the price of a Tesla Model 3. As a result, the M03 has garnered huge orders out of the gate.

It’s been a busy but exciting journey for XPeng Motors and its new MONA lineup of BEVs, which was announced back in April. Although MONA was originally described as a new all-electric sub-brand under the XPeng umbrella, it has since evolved into a portfolio of AI-powered models, beginning with the flagship M03.

This initial model officially debuted in early July, promising a price below RMB 200,000 ($27,500). Earlier this month, XPeng founder, chairman, and CEO He Xiaopeng shared that the M03 had begun mass production in China before a scheduled launch event on August 27.

A product poster that surfaced soon thereafter revealed that the MONA M03 would debut at a starting price significantly lower than initially promised – RMB 135,900 ($19,040). Today however, XPeng surprised the public yet again, officially launching pre-orders of the M03 at even even lower starting price.

The price is right with the arrival of XPeng’s MONA M03

Following a launch event in China earlier today, the MONA M03 has officially launched and is available for pre-order. According to XPeng, the M03 snagged over 10,000 orders in its first 52 minutes, and we can see why.

Per MONA’s Weibo page, the M03 arrives in three separate trims, priced at RMB 119,800 ($16,815), RMB 129,800 ($18,220), and RMB 155,800 ($21,870), respectively. The three variants – 515, 620, and 580 Max – refer to each M03’s CLTC range (km), and the “Max” signifies the addition of XPeng’s smart driving ADAS capability.

When XPeng first unveiled the MONA M03 in July, He Xiaopeng said it was designed to “honor the Tesla Model 3.” Judging by the pricing mentioned above, the Chinese automaker is more concerned with challenging the status of the Model 3 in China than anything.

For example, the Model 3 is currently available in three trims in China priced at RMB 231,900 ($32,550), RMB 271,900 ($38,160), and RMB 335,900 ($47,150), respectively. So even at its top-tier level, the MONA M03 is now available at more than half the price of its Tesla competitor.

Not to mention, the new XPeng sedan is longer, wider, and taller than the Model 3, with a slightly shorter wheelbase.

Each model is propelled by a single motor that can accelerate 0-100 km/h (0-62 mph) in 7.8 seconds in the 515 and 7.4 seconds in the 620 and 580 Max variants. The most affordable trim features a 51.8 kWh battery pack, while the other two come with 62.2 kWh packs. During today’s launch,  Xiaopeng said the Mona M03 consumes 11.5 kWh of electricity per 100 kilometers.

With pre-orders now open, Xpeng says it will begin Mona M03 deliveries in September. Deliveries of the Max variant are expected to start after China’s Spring Festival holiday in late January to early February 2025.