GUANGZHOU, China — Chinese electric carmaker Xpeng Inc. has priced its new P5 sedan as low as 160,000 yuan ($24,694) days after Tesla launched a cheaper version of its Model Y sports utility vehicle.
The aggressive pricing from Xpeng comes as China’s electric vehicle market continues to heat up with an increasing number of players.The P5 — Xpeng’s third production model and second sedan after the P7 — was launched earlier this year. There are six different versions of the car with different features, and prices range from 160,000 yuan to 230,000 yuan - link
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