Chinese electric vehicle maker Xpeng is ramping up its global strategy with plans to roll out its mass-market brand Mona to overseas markets starting in 2026. The move is set to intensify competition not only with Chinese peers but also with established global automakers.
Xpeng introduced Mona in China in 2023, debuting the Mona M03 electric coupe at an aggressive starting price of 119,000 yuan (under $17,000). Positioned in the budget segment, Mona sits well below premium models like the P7 and G6.
In an interview with CNBC, He Xiaopeng, CEO of Xpeng, revealed that:
Mona will debut in Europe in 2025, with broader global expansion planned for 2026.
The cars “will be proven and excellent vehicles” by the time they reach international markets.
This marks the first confirmation of Mona’s official entry into the European market.
Europe is fast becoming the key battleground for EV makers. Chinese brands such as BYD have gained traction, while legacy automakers like Mercedes, BMW, and Volkswagen are accelerating their electric offerings to defend market share.
The addition of competitively priced Mona models is expected to further heat up the race, especially as Tesla struggles with declining sales in the region.
Xpeng began its international journey in 2020 with Norway, later expanding into major markets including Germany and France. Notably:
The company had aimed to establish a presence in 60 countries and regions by the end of 2025.
That goal has already been met ahead of schedule, compared to just 3–5 markets two years ago.
At the IAA Mobility auto show in Munich, Xpeng showcased the Next P7, an upgraded version of its flagship sedan, signaling its ambitions in Europe.
Still, challenges remain, including EU tariffs on Chinese-made EVs. This has pushed many Chinese automakers — including Xpeng — to consider building factories in Europe, though no timeline has been set.
At home, the EV price war is escalating, with domestic automakers and Tesla locked in fierce competition. Regulators have urged companies to avoid excessive “involution” (neijuan), but consolidation appears inevitable.
He Xiaopeng has warned that only “a handful” of Chinese EV makers will survive the shakeout. Some collapses are already underway.
Against this backdrop, Xpeng is signaling openness to acquisitions. After acquiring Didi’s EV development unit in 2023, He said the company would consider buying other EV makers:
“If the opportunity arises, we want to acquire some companies. For us, that’s a good move. Manufacturing firms, EV companies are always possible.”
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