Recently, the order situation for Xpeng's newly launched MONA M03 model has sparked widespread discussion and speculation in the market. Some rumors suggest that ride-hailing companies account for a significant proportion of the orders for this model, leading to much speculation about Xpeng MONA M03's market positioning and target consumer group. These rumors undoubtedly have a certain impact on Xpeng's market image and MONA M03's market performance.

However, in response to these rumors, Yang Guang, head of Xpeng's MONA series products, quickly refuted them through his personal Weibo account. He clearly stated, "Ride-hailing companies have basically not placed any orders for MONA M03." This response directly clarified market misconceptions and dispelled doubts about the composition of Xpeng MONA M03 orders.

Product Positioning Well Executed

On August 27, Xpeng officially launched its new MONA M03 model, which is positioned as "the first Xpeng for young people." With its excellent cost-effectiveness and rich intelligent configuration, MONA M03 quickly attracted widespread market attention. Just 52 minutes after its launch, the number of firm orders for MONA M03 exceeded 10,000, and within 48 hours, it surpassed 30,000, with a market response far exceeding industry expectations.

The success of MONA M03 is no coincidence. As a compact electric vehicle, it accurately captures the needs of young consumers and families, perfectly combining home use with intelligence. In terms of battery life, MONA M03 offers three range options: 515 km, 620 km, and 580 km, which are sufficient for daily commuting and medium-to-short-distance travel. In particular, the 620 km range version, priced at just 129,800 yuan, offers exceptional value for money and has become a hot seller in the market.

In terms of intelligent experience, MONA M03 also excels. The vehicle is equipped with advanced intelligent driving assistance systems, including automatic parking, lane keeping, and adaptive cruise control on highways, providing users with a convenient, safe, and comfortable driving experience. In particular, the 580 ultra-long-range Max version is equipped with even more advanced intelligent driving functions, further enhancing the product's competitiveness.

Xpeng MONA M03's post-launch market performance has been remarkable. According to official data, the number of firm orders exceeded 10,000 within 52 minutes of the vehicle's launch and surpassed 30,000 within 48 hours. This achievement not only set a new industry record but also demonstrated the market's high recognition of Xpeng MONA M03. According to market sources, Xpeng MONA orders have already surpassed 60,000, although this information has not yet been officially confirmed, it is sufficient to prove the popularity of this model.

An in-depth analysis of Xpeng MONA M03's user personas reveals that young users under 30 years old account for more than half of the total. These young consumers pursue not only the practicality of the vehicle but also have high expectations for intelligence, exterior design, and driving experience. Xpeng MONA M03, with its precise market positioning, affordable price, and outstanding product capabilities, perfectly meets the diverse needs of young consumers.

Delivery Remains a Significant Challenge

In response to market rumors and consumer concerns, Xpeng's senior management has actively addressed them. Yang Guang, head of Xpeng's MONA series products, stated in his response, "Ride-hailing companies have basically not placed any orders for MONA M03." This response not only clarified market misconceptions but also emphasized that Xpeng MONA M03 is primarily targeted at the general consumer market.

In the end-user market, Xpeng MONA M03 has won widespread praise from consumers. Many potential car owners have been attracted by MONA M03's cost-effectiveness and intelligent configuration, leading them to place orders. One young consumer said, "I've always wanted to buy an electric car for daily commuting, and MONA M03's battery life, intelligent configuration, and price are all very suitable for my needs."

However, with the surge in orders, Xpeng also faces challenges in production capacity and delivery. Some car owners have complained on social media about MONA M03's "slow delivery," hoping that Xpeng can quickly increase production capacity to meet market demand. In response, Xpeng has taken measures to expand production capacity multiple times and optimize production processes to speed up delivery.

He Xiaopeng, chairman of Xpeng, has expressed confidence in MONA M03's delivery capabilities on multiple occasions. He noted that Xpeng has already expanded MONA's production capacity twice within ten days, aiming to set a new record for first-month deliveries of new-force models. It is understood that Xpeng began optimizing MONA M03's production and delivery processes ten months ago, including pre-locking configurations and styling, streamlining SKUs, etc., to ensure rapid delivery of vehicles to consumers.

Currently, MONA M03's 515 long-range version and 620 ultra-long-range version have officially entered the order confirmation stage and are expected to be delivered within the next 8-10 weeks. However, the highly anticipated 580 ultra-long-range Max version, due to the uniqueness of its electronic and electrical architecture, cannot directly integrate XNGP advanced intelligent driving functions, and its launch has been rescheduled for next Chinese New Year.

'Drawing a Clear Line' with Ride-hailing

Compared to the order boom of Xpeng MONA M03 in the market, Didi, as a founding partner of the MONA project, seems somewhat overshadowed by the popularity of the end-user market.

The origins of the Xpeng MONA M03 project can actually be traced back to Didi's early plans to manufacture vehicles. In April 2018, Didi established the Hongliu Alliance, aiming to collaborate with industry partners to create customized ride-hailing services, and the MONA project was born out of this vision. However, as the new energy vehicle market gradually became increasingly competitive, Didi's vehicle manufacturing plans hit a roadblock.

Against this backdrop, Xpeng acquired Didi's smart vehicle development business assets in phases for a total of HK$5.835 billion in August 2023. As part of the initial closing, Xpeng paid an equivalent of 3.25% of its listed shares. Subsequently, Didi must achieve milestones such as SOP (Standard Operating Procedure) completion and annual sales targets to be eligible for up to an additional 5% of shares.

Furthermore, as part of the SOP consideration shares, Xpeng has issued 4,636,447 Class A ordinary shares to Didi, representing approximately 0.24% of the company's enlarged share capital. This move undoubtedly strengthens the partnership between the two companies and lays a solid foundation for future in-depth cooperation.

Earlier, Gu Hongdi, co-president of Xpeng, publicly stated that the MONA model was designed to meet the needs of both ordinary consumers and ride-hailing fleets. However, Xpeng officials have now made it clear that the MONA series will be 'drawn a clear line' with ride-hailing. He Xiaopeng has solemnly declared on multiple important occasions that the M03 model will not be launched as a ride-hailing version.

For Didi, after its vehicle manufacturing plans went through a tumultuous journey from initiation to stagnation, although it failed to achieve its manufacturing goals due to various reasons, it still has the opportunity to play a vital role in the new energy vehicle market through partnerships with companies like Xpeng and others.