Tesla's China Rival Xpeng Introduces Affordable EV with Autonomous Driving Features and a Price Tag That Undercuts the Model 3
Tesla's China rival, Xpeng, has introduced an affordable electric vehicle model, including a premium model with autonomous driving features. The new model's pricing undercuts Tesla's most affordable Model 3. Tesla has been lowering its prices in China to stay competitive but faces fierce competition from local manufacturers like BYD and NIO who are also advancing in self-driving tech and offering lower-priced alternatives. Tesla's future competitiveness in China might hinge on innovations like the Robotaxi and overcoming the intense price competition from these rivals.
Category
🗞
NewsTranscript
00:00It's Benzinga, and here's what's on the block.
00:02Tesla's Chinese rival, Xpeng, has introduced an affordable electric vehicle model, including
00:07a premium model with autonomous driving features.
00:10The new model's pricing undercuts Tesla's most affordable Model 3.
00:14Tesla has been lowering its prices in China to stay competitive, but faces fierce competition
00:19from local manufacturers like BYD and NIO, who are also advancing in self-driving tech
00:24and offering lower-priced alternatives.
00:27Tesla's future competitiveness in China might hinge on innovations like the RoboTaxi and
00:31overcoming the intense price competition from these rivals.
00:34For all things money, visit Benzinga.com.