XPeng Accelerates Global EV Expansion with Affordable Mona Brand

Chinese electric vehicle manufacturer XPeng (XPEV) is making aggressive moves to capture global market share. CEO He Xiaopeng confirmed the mass-market Mona brand will launch in Europe and other overseas markets by early 2025, signaling intensified competition with legacy automakers and Chinese rivals.

The M03 hatchback—already accounting for half of XPeng's China sales since its August 2024 debut—will spearhead the push. Priced between 119,800-155,800 yuan ($16,500-$21,400), it undercuts the company's premium models like the P7 sedan. More budget-friendly Mona vehicles are slated for 2026 releases across multiple continents.

XPeng's European ambitions are materializing through a new Munich R&D center and potential local production facilities. While the stock gained 4% on the announcement, challenges remain in scaling operations and navigating trade barriers.