XPeng launches L03 in Europe, undercutting Tesla's Model Y

XPeng unveiled its new Mona L03 compact electric SUV in Munich on July 16, its first model debuted simultaneously across international markets rather than launching in China first. In Germany the entry-level battery-electric version starts at €35,600 (about $40,700) with a 58.3 kWh LFP battery and 445 km of WLTP range - more than €3,000 below Tesla's Model Y and over €10,000 below Audi's Q4 e-tron - as Chinese automakers accelerate their push into Europe. XPeng is targeting 8,000 L03 sales in Germany this year and 20,000 next year.