Chinese electric vehicle maker Xpeng plans to launch its mass-market Mona brand in overseas markets next year, CEO He Xiaopeng told CNBC. The move will intensify competition with Chinese rivals and traditional automakers in Europe.
Xpeng introduced the Mona brand in China last year with the Mona M03 coupe, priced aggressively at 119,000 yuan (under $17,000). He confirmed that Europe will see Mona-branded cars in 2025, adding that by 2026, multiple Mona models will be available in China, Europe, and beyond.
These lower-priced models will target a broader audience than Xpeng’s higher-end P7 and G6. The push comes as Chinese EV firms expand rapidly abroad, with BYD gaining traction in Europe, while Mercedes, BMW, and Volkswagen ramp up their EV efforts.
Xpeng’s global expansion has moved faster than planned. Originally targeting 60 markets by 2025, the company has already achieved this milestone, compared to just a handful two years ago. The automaker began international operations in 2020 in Norway, later entering Germany and France.
Challenges remain, particularly with the EU’s tariffs on China-made EVs. Xpeng is exploring manufacturing in Europe but has not finalized a timeline.