Xpeng Motors unveiled an electric car that will compete against Tesla Inc.’s Model 3 in China by offering a longer range and cheaper price.
The P7 sedan, Guangzhou-based Xpeng’s second vehicle, will have a maximum range of 706 kilometers (440 miles) per charge and cost 254,900 yuan ($36,000) after subsidies when it becomes available in September, the company said Monday. By comparison, the longer-range version of the Model 3 that’s expected to be available in China in June will be able to run 650 kilometers on one charge and sell for 344,050 yuan.
