Yesterday, the Xiaopeng MONA M03 was officially launched, and the launch event was heated up with loud slogans. The car comes in three configurations, all with a single motor, priced at 119,800-155,800 yuan. Honestly, this price is roughly what I expected. It's not that I'm good at estimating prices, but rather that He Xiaopeng had previously revealed the price range of the Xiaopeng MONA M03 through various channels, essentially making it transparent.

So, will the launch of this car truly turn Xiaopeng Motors' fortune around? Before discussing this, let me first give a brief overview of Xiaopeng Motors' current situation. On August 20, Xiaopeng released its Q2 2024 financial report, revealing a total net loss of 1.28 billion yuan, a slight narrowing from the previous quarter. In comparison, the net loss for the same period last year was 2.8 billion yuan, and the previous quarter's net loss was 1.37 billion yuan.

In terms of sales, from January to July this year, Xiaopeng sold a cumulative total of 63,000 vehicles, achieving only 22.6% of its annual target, indicating an unoptimistic progress. Among the three representative new energy vehicle brands (NIO, Xpeng, and Li Auto), Li Auto sold nearly 240,000 vehicles in the same period, while NIO sold 108,000 vehicles, achieving 42.9% and 46.9% of their annual targets, respectively.

The reason for this is that the Xiaopeng X9, released this year, is priced above 300,000 yuan, and the main sales drivers in stores are still the Xiaopeng G6 and G9. However, due to their similar price ranges and positioning, these two models have created internal competition to some extent. Therefore, Xiaopeng Motors urgently needs new models to boost sales. In other words, all of Xiaopeng Motors' hopes are now pinned on the Xiaopeng MONA M03. It is not an exaggeration to say that they want to rely on this car to turn their fortune around. Xiaopeng Motors cannot afford to lose anymore.

That being said, let's focus on the car itself. First and foremost, it is a compact vehicle with a wheelbase of 2815mm, similar to the Tesla Model 3, featuring a hatchback tailgate. The front face is enclosed, paired with exaggerated headlight designs on both sides, creating a strong visual impact. However, whether it looks good or not depends on individual aesthetics.

Moving on to the interior, it exudes a minimalist vibe, with a seamless design extending from the dashboard to the upper part of the door panels. Oh, by the way, the Xiaopeng MONA M03 does not come with a traditional instrument cluster or HUD. To be precise, it's not that there isn't one; it's been designed as a pluggable accessory, priced at 599 yuan each. Impressive, indeed.

Perhaps Xiaopeng Motors has diverted the money saved from these design choices into other innovative features, such as the electronic wooden fish. The car is equipped with a Qualcomm 8155 chip, but there's also an electronic wooden fish in the top right corner of the infotainment system. Tapping the screen adds to your "virtue points." Whether this feature is useful or not depends on individual needs. After hearing He Xiaopeng's explanation, Lei Jun had this expression.

The powertrain is perhaps the most controversial aspect of the Xiaopeng MONA M03. It employs a front-wheel-drive system with a MacPherson strut front suspension and a torsion beam rear suspension. There are two versions of the drive motor and multiple driving ranges. The Xiaopeng MONA M03 515 model has a maximum motor power of 140KW and a peak torque of 225N.m, paired with a 51.8kWh LFP battery pack, offering a CLTC driving range of 515km and 485km. The Xiaopeng MONA M03 620 model boasts a maximum motor power of 160KW and a peak torque of 250N.m, powered by a 62.2kWh LFP battery pack, delivering a CLTC driving range of 620km and 585km. The Xiaopeng MONA M03 580 Max model shares the same powertrain specifications and 62.2kWh LFP battery pack but offers a CLTC driving range of 580km. The controversy stems primarily from doubts about the authenticity of the advertised driving range. Claiming a 620km range on a 62kWh battery does require some confidence. For instance, my own Geometry A has a 53kWh battery and an official driving range of 430km, but it typically manages around 400km on a full charge. My car is smaller and lighter than the Xiaopeng MONA M03 and uses a ternary lithium battery, so I find it hard to comprehend how the Xiaopeng MONA M03 achieves such a high driving range with a smaller battery.

At the launch event, He Xiaopeng briefly touched upon the battery aspect, leaving questions about the authenticity of the driving range unanswered. So, Xiaopeng Motors, is there truly no exaggeration in the advertised driving range? Without testing, it's hard to say for sure. We'll report back after conducting our own tests.

In conclusion, the Xiaopeng MONA M03 marks Xiaopeng Motors' first foray into the 120,000 yuan price range. Don't underestimate this segment; the lower-priced market is fiercely competitive. Xiaopeng Motors' dilemma is evident in this model, as they strive to offer everything while managing costs, often leading to unsatisfactory compromises. Xiaopeng Motors must do everything in their power to retain their competitive edge. While it may be harsh to say, relying solely on the Xiaopeng MONA M03 for a turnaround will be difficult, and Xiaopeng Motors may have to endure more struggles before seeing any significant improvement.