Xpeng Mona L03 SUV. Credit: Xpeng
- Xpeng CEO said the L03 won’t be priced above 300,000 yuan ($44,290), but its development was aligned with the standards of 300,000-yuan-class EVs.
- Xpeng positions the Mona L03 as “young people’s first smart and stylish SUV,” continuing its dual-powertrain strategy.
Xpeng (NYSE: XPEV) announced on Tuesday that it will debut the Mona L03, its new sport utility vehicle (SUV), in July, after beginning to tease the model a day earlier.
The Mona L03 is the second model in Xpeng’s Mona lineup following the M03 sedan, and it is the lineup’s first SUV.
The company has positioned the Mona L03 as “young people’s first smart and stylish SUV,” saying the model will continue Xpeng’s dual-powertrain strategy.
Xpeng unveiled the full meaning behind the Mona lineup’s naming. The company said that within the Mona lineup, the letter M stands for sedan and L stands for SUV, with the two together spelling out “Mona Lisa.”
The Mona L03 adopts a sporty fastback SUV shape, continuing the same family design language as the Mona M03. The vehicle first appeared in a declaration catalog published by China’s Ministry of Industry and Information Technology (MIIT) in April.
According to the filing data, the vehicle measures 4,650/4,672 millimeters in length, 1,920 millimeters in width and 1,600 millimeters in height, with a wheelbase of 2,850 millimeters. It can seat 5 passengers and has a top speed of 180 kilometers per hour.
Xpeng chairman and CEO He Xiaopeng said on Weibo today that the L03 aims to offer young consumers an experience above its class.
He said the new vehicle won’t be priced above 300,000 yuan, but its development was fully aligned with the standards of 300,000-yuan-class vehicles.
Notably, the L03 SUV is expected to target the mass market with a price around 150,000 yuan. The M03 sedan currently starts at 119,800 yuan, about half the price of a comparably sized Tesla (NASDAQ: TSLA) Model 3.
Mr. He said that in smart driving, cabin interaction and safety, the L03 was built to higher standards.
He criticized most rivals in the same class for still following an old, cookie-cutter design path, with crude interior quality and a general lack of intelligent features.
The L03 is also the Mona lineup’s first dual-powertrain model, offering both battery electric vehicle (BEV) and extended-range electric vehicle (EREV) powertrains. He said the design is intended to balance the cost-efficiency of daily commuting with the range needed for long-distance travel.
The L03 is the second model in the Mona lineup, following the hugely successful M03 sedan.
The M03 went on sale in August 2024 and quickly became Xpeng’s best-selling model. The electric sedan delivered 175,689 units throughout 2025, accounting for 40.91% of the company’s total deliveries.
Xpeng Mona M03 Monthly Deliveries 2024-2026
Month
2024
2025
2026
January
15,225
6,722
February
15,312
4,375
March
16,593
9,335
April
14,210
13,699
May
10,900
14,160
June
14,111
July
15,758
August
517
15,334
September
10,023
14,546
October
10,203
16,424
November
11,962
14,886
December
15,904
12,390
Xpeng Mona M03 monthly deliveries
2024
2025
2026
As of the end of May, the M03 had delivered a cumulative 272,589 units since its launch, according to data compiled by CnEVPost.
However, the M03’s sales momentum has slowed recently. The model delivered a cumulative 48,291 units in the first 5 months of 2026, down 33.15% year-on-year, mainly due to a high base effect.
Even so, the M03 still delivered 14,160 units in May, up 29.91% year-on-year, reversing five consecutive months of year-on-year declines. The model remains Xpeng’s best-selling vehicle.
The top-trim battery-electric version of the Xpeng GX faces the longest delivery wait times, while other variants remain in relatively ample supply.
($1 = 6.7740 yuan)
