By Michael Elkins
The Shanghai Auto show kicked off Tuesday after last year's COVID hiatus, with many automakers eager to promote their brands. Chinese EV maker Xpeng (NYSE:XPEV) was no exception, announcing the release of the company’s new medium-sized SUV, the G6.
The G6 is the first model based on Xpeng Motors' SEPA2.0 “Fuyao” architecture, and will feature the EV maker's latest technologies in intelligent systems, power regeneration, and smart manufacturing. XPeng CEO He Xiaopeng announced the SEPA2.0 Monday saying that it “will lead smart EV technology development for the next three years.”
“Ultimately, SEPA2.0 will architecturally empower us in our ongoing quest to redefine mobility experience with compelling value, superb comfort and rich infotainment,” he said.
According to previous reports, the G6 will be launched and delivered in the second quarter of this year. However, it is worth mentioning that Xpeng previously stated that the SEPA 2.0 Fuyao architecture used by the G6 can shorten the development cycle of new models by 20%, and the highest rate of parts commonality based on architecture can reach 80%.
“Xpeng Motors will have about 10 models released in the near future with better quality and lower costs,” said He Xiaopeng, chairman and CEO of Xiaopeng Motors.
Shares of XPEV are down 1.66% in afternoon trading on Tuesday.