XPeng sets a record in China with the production growth of its MONA M03 EV
XPeng Motors is touting a new record alongside its latest production milestone surrounding its new MONA M03 EV, launched less than a year ago. The company recently hit 100,000 builds of the M03 as demand for the new model continues to grow in China.
Today’s milestone for XPeng’s MONA marque dates back to the summer of 2024 when the Chinese EV automaker began teasing its name and a silhouetted image of its flagship model. That EV would become known as the MONA M03, officially debuting last July.
Even before its official launch in China, XPeng began mass production of the MONA M03 in anticipation of high demand for an AI-centric EV model that promised to be affordable. The BEV launched in late August 2024, starting at an ultra-low price of $16,815 – over half that of a Tesla Model 3 in China.
XPeng knew it had a winner on its hands when over 30,000 customers in China secured orders in the first 48 hours the M03 was on sale. By September, XPeng averaged over 2,000 MONA EV orders daily and implored its suppliers to keep up to service such demand.
The automaker appears to have been keeping a fast production pace. It recently announced it had built 100,000 MONA EVs in seven months, hailing the milestone as a new record for passenger BEVs.
MONA EV hits 100,000 builds in first seven months
XPeng shared the images seen above on its Weibo page, alongside details of its 100,000 MONA EV production milestone, which took a mere 216 days since launch. By hitting the 100k mark in that timeframe, XPeng said it had set a record for a new Chinese automaker’s fastest production of a battery electric vehicle model.
XPeng founder, chairman, and CEO He Xiaopeng visited the automaker’s MONA EV Zhaoqing production facility to see the 100,000th build roll off the assembly line. As we’ve reported, XPeng has had high hopes for the MONA M03, stating that its success would have an enormous impact on the Chinese automaker’s overall sales targets for 2025.
For the first seven months, all signs have been encouraging from Chinese consumers as the MONA M03 EV is becoming a popular option in the all-electric sedan category. There are also no signs of slowing down yet, either. According to data from CnEVPost, XPeng has delivered at least 15,000 MONA EVs to customers in the past three consecutive months.
In January and February 2025, the M03 accounted for over 50% of all XPeng BEV deliveries. Keep in mind that demand is only for the first two trims of the MONA sedan—an entry-level version with a 515 km (310 miles) CLTC range and a long-range variant offering 620 km (385 miles).
XPeng is already taking orders for a top-tier variant called the MONA M03 Max. According to Xiaopeng, this variant will offer a 685 km (426 miles) CLTC range and feature “the industry’s top autonomous driving technology.” Deliveries of the MONA Max EV are expected to begin in China this May.
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Environment
U.S. crude oil falls below $60 a barrel to lowest since 2021 on tariff-fueled recession fears
A view shows disused oil pump jacks at the Airankol oil field operated by Caspiy Neft in the Atyrau Region, Kazakhstan April 2, 2025.
Pavel Mikheyev | Reuters
U.S. oil prices dropped below $60 a barrel on Sunday on fears President Donald Trump’s global tariffs would push the U.S., and maybe the world, into a recession.
Futures tied to U.S. West Texas intermediate crude fell more than 3% to $59.74 on Sunday night. The move comes after back-to-back 6% declines last week. WTI is now at the lowest since April 2021.
Worries are mounting that tariffs could lead to higher prices for businesses, which could lead to a slowdown in economic activity that would ultimately hurt demand for oil.
Oil futures, 5 years
The tariffs, which are set to take effect this week, “would likely push the U.S. and possibly global economy into recession this year,” according to JPMorgan. The firm on Thursday raised its odds of a recession this year to 60% following the tariff rollout, up from 40%.
Fueled by incentives from the Illinois EPA and the state’s largest utility company, new EV registrations nearly quadrupled the 12% first-quarter increase in EV registrations nationally – and there are no signs the state is slowing down.
Despite the dramatic slowdown of Tesla’s US deliveries, sales of electric vehicles overall have perked up in recent months, with Illinois’ EV adoption rate well above the Q1 uptick nationally. Crain’s Chicago Business reports that the number of new EVs registered across the state totaled 9,821 January through March, compared with “just” 6,535 EVs registered in the state during the same period in 2024.
Those numbers represent more than 50% growth in EV registrations – far beyond the expected 12% first-quarter increase nationally being projected by Cox Automotive. (!)
What’s going on in Illinois?
While President Trump and Elmo were running for re-election, they campaigned on the threat promise of canceling the $7,500 federal tax credit for EVs. Along with California Governor Gavin Newsom, Illinois’ Governor JB Pritzker made countermoves – launching a $4,000 rebate for new electric cars and up to $1,500 for the purchase of a new electric motorcycle.
At the same time, the state’s largest utility, ComEd, launched a $90 million EV incentive program featuring a new Point of Purchase initiative to deliver instant discounts to qualifying business and public sector customers who make the switch to electric vehicles. That program has driven a surge in Class 3-6 medium duty commercial EVs, which are eligible fro $20-30,000 in utility rebates on top of federal tax credits and other incentives (Class 1-2 EVs are eligible for up to $7,500).
We covered the launch of those incentives when the program was announced at Chicago Drives Electric last year, but the message here is simple: incentives work.
SOURCES: Chicago Business, Ray Cunningham; featured image by the author.
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The electric construction equipment experts at XCMG just released a new, 25 ton electric crawler excavator ahead of bauma 2025 – and they have their eye on the global urban construction, mine operations, and logistical material handling markets.
Powered by a high-capacity 400 kWh lithium iron phosphate battery capable of delivering up to 8 hours of continuous operation, the XE215EV electric excavator promises uninterrupted operation at a lower cost of ownership and with even less downtime than its diesel counterparts.
XCMG is delivering on part of that reduced downtime promise with the lower maintenance and easier repair needs of electric equipment, and delivering on the rest of it with lickety-quick DC fast charging that can recharge the machine’s massive battery in 1.5-2 hours … but that’s not the slick bit. The XCMG XE125EV can be powered up without leaving the job site thanks to its BYD battery swap technology.
We first covered XCMG and its battery swap technology back in January, and covered similar battery-swap tech being developed by MOOG Construction offshoot ZQUIP, as well – but while XCMG’s battery tech has been in production for several years, it’s still not widely known about in the West (even within the industry).
XCMG showed off its latest electric equipment at the December 2024 bauma China, including an updated version of its of its 85-ton autonomous electric mining truck that features a fully cab-less design – meaning there isn’t even a place for an operator to sit, let alone operate. And that’s too bad, because what operator wouldn’t want to experience an electric truck putting down 1070 hp more than 16,000 lb-ft of torque!?
Easy in, easy out
The best part? All of the company’s heavy equipment assets – from excavators to terminal tractors to dump trucks and wheel loaders – all use the same 400 kWh BYD battery packs, Milwaukee tool style. That means an equipment fleet can utilize x number of vehicles with a fraction of the total battery capacity and material needs of other asset brands. That’s not just a smart use of limited materials, it’s a smarter use of energy.
You can check out all the XE215EV’s specs at this tear sheet, and get an in-person look at the Chinese company’s latest electric excavator this week in Munich, Germany.
SOURCE | IMAGES: XCMG.
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