XPeng Inc. (NYSE:XPEV) Q3 2022 Earnings Call Transcript

Brian Gu: Yes, it’s Brian again. On P7 next year, yes, we aim to launch the upgraded model to reflect the technology advancements, particularly the ones that you saw already on G9. So, the P7 will have equally advanced autonomous driving architecture, will also have the faster charging capabilities and higher voltage capabilities as well as a number of other upgrades and fixes that will address the €“ some of the shortcomings people have €“ we received the feedback on. Benefiting from the platform development actually, since a lot of these advancements are just sharing the modular and platform development, we actually are able to control the cost of the new P7, so to maintain the similar margins of the current version. And also the current €“ some models of the current version P7 will continue to be selling along with the updated P7.

So, it’s actually I would say, the high end or upgraded version of the P7. So, with that, I think we believe we can introduced a much more competitive P7 reflecting the top-of-the-line capabilities that we have in technology, while maintaining the segment price and profitability on the series €“ the P7 series.

Operator: Thank you. As there are no further questions, now I would like to turn the call back over to the company for closing remarks.

Alex Xie: Thank you once again for joining us today. If you have further questions, please feel free to contact XPeng’s Investor Relations through the contact information provided on our website or the TPG Investor Relations. Thank you.

Operator: Thank you. This concludes today’s conference call. You may disconnect your lines now. Thank you for your participation.