XPeng (XPEV.N): MONA L03 Strong Initial Orders; More updates on ADAS/Humanoid Robot/Robotaxi

Research evidence excerpt

XPeng (XPEV.N): MONA L03 Strong Initial Orders; More updates on ADAS/Humanoid Robot/Robotaxi

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16 Jul 2026 19:17:56 ET │ 11 pages

XPeng (XPEV.N)

MONA L03 Strong Initial Orders; More updates on ADAS/Humanoid

Robot/Robotaxi

CITI'S TAKE Buy

Price (16 Jul 26 16:00) US$14.04 Xpeng launched MONA L03 compact SUV on 16-July, with non-

Target price US$22.50 refundable orders exceeding 20k units in 7 minutes post launch, according

to a company announcement. MONA L03 comes with a starting price of Expected share price return 60.3%

Rmb123.8k (Rmb20k below pre-sales pricing), offers both BEV and EREV Expected dividend yield 0.0%

powertrain options, and carries in-house developed Turing chips Expected total return 60.3%

(750/1500 TOPS on Max/Ultra SE trim). Future models to be Market Cap US$13,451M

simultaneously launched in China and globally: Adapting to 65 countries

and regions, the MONA L03 was simultaneously launched in overseas,

with starting prices from €35,600 across several European markets (link).

Going forward, every new model of Xpeng will be simultaneously launched Jeff ChungAC

in China and globally. Into 2H26, we expect Xpeng sales volume growth +852-2501-2787

(both domestic and export) to outperform peers (Growth Divergences into jeff.m.chung@citi.com

3Q26; 4 Names to focus) . On high-beta-names we prefer Kyle Wu

Leapmotor/Xpeng; on earnings revisions trend we prefer +852-2501-8483

Chery/Geely/BYD; Meanwhile we have Sell ratings on GWM and Seres. kyle.wu@citi.com

VLA2.0 autonomous driving to be delivered in Europe in 2027E: Xpeng recently

completed its first overseas localized validation of its Turing AI intelligent driving in

Europe, making Xpeng the first Chinese automaker to deploy one unified AI model

that supports ADAS operations in both China and Europe.