Chinese carmaker Xpeng has launched a low-priced electric vehicle based on technology sifted from the ashes of ride-hailing group Didi’s thwarted efforts to break into the country’s highly competitive automotive sector.
The Mona M03 saloon, based on an unfinished car project Didi sold to Xpeng for HK$5.84bn ($744mn) last year, features a Tesla-like button-free dashboard and an artificial intelligence-powered self-driving system.
With a starting price of just Rmb119,800 ($16,800), half that of Tesla’s Model 3 standard version, the M03 is competing against the US EV manufacturer and models offered by Chinese domestic market leader BYD.
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