Some of Australia’s most popular electric vehicles (EVs) have dropped in price in recent weeks. At worst it’s a sign of falling demand, at best it’s a sign of healthy competition.
Even Tesla Model Y SUVs and Tesla Model 3 sedan – the best-selling electric vehicle in Australia – is also not immune to the impact. Last week, the brand dropped its prices to the lowest we’ve seen since its local launch.
The trend is unrelated to TrueEV CEO Jason Clarke, whose startup has been tapped as the local importer, distributor and retailer for Xpeng, a Chinese brand looking to enter the electric vehicle market (EV) is crowded in Australia.
Car expert asked Mr. Clarke whether the recent price cut has created worries about the brand’s imminent arrival, as it prepares to launch the Y-sized Model Xpeng G6 in the coming months ahead of first deliveries on October.
“If we launched today? Correct! But we had the privilege of watching this game happen,” Mr Clarke said.
“We don’t want to get caught up in that [price cuts]. If you were a customer three months ago who just experienced a major loss of value, I don’t think that’s good.
“So for Xpeng and TrueEV, we don’t want to get caught up in that. I hope this goes on for the next six weeks and is over.
“Price is an important deciding factor in buying a car, but we can’t sell Xpeng on price – and we haven’t chosen Xpeng out of 120 different brands because it’s cheap. It’s really good.
“So we have to stay away [price cuts] and we also want to preserve value for our customers.”
Official pricing hasn’t been announced for the G6, but Mr. Clarke suggests it will start under $60,000 – possibly closer to $55,000 before shipping.
Tesla Model Y now $55,900 before on-roads in base RWD form, going up to $63,900 before on-roads when the mildly updated version arrives in April 2024.
The Xpeng G6 is available overseas with 66kWh and 87.5kWh battery packs, and offers fast charging up to 280kW.
The base model has a claimed range of 435km in the WLTP test cycle, while the larger battery pack is capable of up to 570km in the same test cycle.
Maximum power in the base rear-wheel drive is 190kW and maximum torque is 440Nm, while the long-range rear-wheel drive has 220kW and 440Nm. The all-wheel drive Performance model is also available overseas with 350kW and 660Nm.
Xpeng’s launch in mid-late 2024 in Australia will coincide with the arrival of Chinese electric vehicle specialists such as Zeekr – owned by Geely, Volvo’s parent company – and Chery’s Jaecooboth mature in the second half of this year.
