The Chinese car manufacturer XPENG, which is traded on the NYSE, is preparing for the start of operations in Israel, possibly before the end of this year. Representatives of the company already visited Israel in 2021, but in the end the company’s entry into Israel was postponed, partly due to delays in the company’s plan to penetrate Europe during 2022.
● Tesla is shaking up the market: a base version of the Tesla Y at a discount of NIS 50,000
● The Great Disappearance: What will the Bank of Israel do if the threat scenario materializes | Interpretation
In the current round, the company conducts advanced contacts with several key parties in the automotive industry, including the Belilios Group, the Lubinski Group, the Carso Group and others. As far as is known, the current leading candidate for the franchise is the Carso Group, which already owns several franchises of Chinese brands. The Carso company refused to comment on the matter.
It should be noted that the Chinese manufacturer wanted to establish its presence in Israel in a “manufacturer-dealer” format, meaning that the manufacturer is the official importer responsible for orders, similar to Tesla’s format, and its representative in Israel acts as a “distributor”, who provides it with sales support services, technical services, etc. for a fee Sales. It is not yet clear whether this will indeed be the final form of marketing in Israel.
In 2022, the company recorded sales growth of 23% to about 121,000 vehicles, but its net loss almost doubled to about 1.3 billion dollars.
The company is expected to unveil this month in China a new generation of premium electric crossover called G6, which will be its main export model. The length of the vehicle is 4.75 meters, its wheelbase is 2.89 meters long and it will be offered in the configuration of a single engine with about 300 hp or two engines with 480 hp.
The model will compete directly with the Tesla Y and the prices in China will start at about 29 thousand dollars. At the same time, the company will also market the new generation of the P7I electric sports sedan, the outgoing version of which was also marketed in Europe. The company also has a large and luxurious crossover called the G9 with seven seats, which is also intended for marketing in Europe