The Xpeng Mona M03 will have a starting price of no more than RMB 135,900 ($19,030), according to a previous poster from the company.

Xpeng (NYSE: XPEV) will officially launch the first model in its Mona array, the M03, next week, as the Chinese electric vehicle (EV) maker celebrates its 10th anniversary.

Xpeng will hold a launch event for the Mona M03 on August 27 starting at 7 pm Beijing Time and the event will also mark the company's 10th anniversary, according to a Weibo post it released today.

“Over the past 10 years, Xpeng has had the great honor of experiencing and witnessing the epic first half of China's new energy vehicle industry with old and new friends,” the company wrote on Weibo.

“In the upcoming second half, Xpeng invites you to come and witness the love and innovation of the AI era,” it added.

He Xiaopeng, chairman and CEO of Xpeng, revealed the Mona M03 will go on sale on August 27 during a live video broadcast of a range challenge for the Xpeng G6 SUV (sport utility vehicle) on August 13.

Xpeng was one of the first new car-making forces in China, and information on its website shows it was founded in August 2014, without mentioning a specific date.

Earlier this month, Mr. He said August 15 marked the 10th anniversary of Xpeng's founding.

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

The Mona array stems from Xpeng's acquisition of ride-hailing giant Didi Global's EV business in August 2023, and it said at the time that it planned to launch the new brand in 2024 under the code name Mona. But the company has now referred to Mona as the new array in its new wording.

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 M03s had rolled off the assembly line.

The Xpeng Mona M03's starting price will be no more than RMB 135,900 ($19,030), according to a company poster on August 14.

Xpeng Mona M03 to start at no more than $19,030