The Xpeng Mona M03 will have a starting price of no more than RMB 135,900 ($19,030), and its official launch will take place on August 27, a poster shows.

The M03, the first model in Xpeng's (NYSE: XPEV) Mona lineup, will be the cheapest model from the Chinese electric vehicle (EV) maker.

The Xpeng Mona M03 will have a starting price of no more than RMB 135,900 ($19,030), and its official launch will take place on August 27, a poster from the company showed today.

Earlier today, several Chinese automotive websites displayed the model's guide price of RMB 135,900 on their pages for the Xpeng Mona M03.

This would make the Mona M03 Xpeng's cheapest model, well below the company's flagship sedan P7i.

Xpeng currently sells the P5 sedan, P7i sedan, G6 SUV (sport utility vehicle), G9 SUV and X9 MPV (multi-purpose vehicle). It is expected to launch the new sedan P7+ in the fourth quarter.

Until the Mona M03 becomes available, Xpeng's current cheapest model is the P5, which starts at RMB 156,900.

Its flagship sedan, the P7i, is currently priced at RMB 223,900, while the G6, G9 and X9 are currently priced at RMB 199,900, RMB 263,900 and RMB 359,800 respectively.

The Mona M03 price will also be much lower than the Tesla (NASDAQ: TSLA) Model 3's price in China, where the Tesla sedan is currently offered in three variants with starting prices of RMB 231,900, RMB 271,900, and RMB 335,900 respectively.

The Xpeng electric sedan measures 4,780 mm in length, 1,896 mm in width and 1,445 mm in height, and has a wheelbase of 2,815 mm, according to a June 13 regulatory filing.

For comparison, the latest Tesla Model 3 has a length, width, and height of 4,720 mm, 1,848 mm, and 1,442 mm, respectively, and a wheelbase of 2,875 mm.

He Xiaopeng, Xpeng's chairman and CEO, said yesterday in a live video stream about the G6 range challenge that the company will officially launch the Mona M03 on August 27.

Mr. He did not mention more information about the Mona M03 launch, and CnEVPost had learnt that Xpeng will hold the launch event for the Mona M03 as well as a celebration of its 10th anniversary in China's capital city of Beijing.

The Mona M03 made its debut on July 3 and began accepting pre-orders on August 8. On August 9, Mr. He said the first production cars of the M03 had rolled off the production line.

The Mona M03 will be priced under RMB 200,000 and will have the strongest intelligent driving capabilities in its class, Xpeng has said several times before.

($1 = RMB 7.1418)

Xpeng to launch Mona M03 on Aug 27