Chinese electric vehicle company Xpeng Motors announced a partnership with DidiConduct strategic cooperationXpeng will acquire Didi's smart electric vehicle technology and R&D assets, with Didi becoming a strategic investor. In this transaction, Xpeng will also launch the A-class smart electric vehicle, codenamed "MONA," which is expected to enter mass production in 2024 and become the first vehicle under Xpeng's new brand. It is expected to be priced around 15 RMB (approximately NT$66).
The transaction involves Xpeng Motors acquiring 3.25% of its Class A common stock, with a 24-month lock-up period to ensure the continued strategic partnership between the two parties. The actual transaction value is approximately HK$58.35 billion (approximately NT$235 billion). Xpeng Motors will acquire Didi's smart electric vehicle technology and R&D assets, and will leverage Didi's platform resources to promote the Class A smart electric vehicle, codenamed "MONA."
According to sources, the A-class smart electric vehicle codenamed "MONA" will target both the corporate and consumer markets, and will be priced more affordably while also enhancing its smart vehicle application experience.
Prior to this, Didi had already invested heavily in the development of self-driving technology, even establishing Judian Travel with Li Auto in 2018. The original plan was to launch a pure electric SUV, but this plan ultimately fell through, with Judian Travel filing for bankruptcy in August 2022. The D8, a mobile ride-hailing service model launched by Didi and BYD in November 2022, failed to generate positive feedback upon its initial launch.
During its internal development phase, Didi was rumored to be developing a pure electric vehicle codenamed "Da Vinci," targeting a price point of RMB 15, but ultimately no further details were released. However, with the recent rumors of a planned launch of an A-segment smart electric vehicle codenamed "MONA," also targeting a price point of RMB 15, this could be the pure electric vehicle Didi previously codenamed "Da Vinci."
As for the cooperation with Didi, it fills the "gap" that Xiaopeng Motors previously believed could not produce fully autonomous driving vehicles at a price of RMB 15. It may also further help Xiaopeng Motors reduce the production cost of smart electric vehicles and make smart driving functions a standard feature of the entire series of models.
In addition to Xpeng Motors' plan to expand the electric vehicle market with a new brand, Tesla has also been rumored to be planning to launch a new electric vehicle that may be called "Model Q" or "Model 2".Affordable car modelsAt the same time, there are reports that this car will be provided in the form of a van, which can be used in general life scenarios or as a business vehicle. The electric vehicle open platform MIH founded by Foxconn is also ready to be launched throughProject X, creating micro electric vehicles in a modular form, making it easier for electric vehicles to enter the mass market.
