Source: XPeng

XPeng (NYSE: XPEV, HKG: 9868) launched the 2026 MONA M03 on April 2, 2026, recording 10,000 firm orders within 37 minutes of the event's close — a faster pace than both the original M03 launch in August 2024, which took 52 minutes to reach the same mark, and last May's Max variant update, which reached it in about an hour.

The updated sedan arrives at a pivotal moment for the model's commercial trajectory. The MONA M03 delivered 175,689 units throughout 2025, accounting for nearly 41% of XPeng's total deliveries for the year and cementing its position as the top-selling pure-electric A-class sedan in China for 15 consecutive months. In the first two months of 2026, the model contributed over 31% of company-wide deliveries, though volumes had softened ahead of the refresh.

Source: XPeng

The 2026 model is offered in six configurations priced from 119,800 CNY (c. $17,400) to 151,800 CNY (c. $22,000), keeping the entry price unchanged from the outgoing version. The six trims are: 540 Long Range Plus at 119,800 CNY (c. $17,400), 640 Ultra Long Range Plus at 129,800 CNY (c. $18,800), 510 Long Range Max at 129,800 CNY (c. $18,800), 610 Ultra Long Range Max at 139,800 CNY (c. $20,300), 510 Long Range Ultra SE at 141,800 CNY (c. $20,600), and 610 Ultra Long Range Ultra SE at 151,800 CNY (c. $22,000).

Buyers who paid a 5,000 CNY deposit before April 30, 2026, were eligible for incentives including two years of zero-interest financing or a 3,000 CNY discount on select paint options. The top-trim Ultra SE variant, equipped with dual Turing AI chips, is not expected to begin customer deliveries until August 2026.

The most consequential upgrade is the introduction of XPeng's in-house Turing AI chip across the Max and Ultra SE trim levels — the first time the company has brought high-computing-power smart driving hardware to the sub-$20,000 EV market. Max variants carry a single Turing chip delivering 750 TOPS of effective computing power, while the Ultra SE uses dual chips for a combined 1,500 TOPS. The Max trims ship with XPeng's first-generation VLA (Vision-Language-Action) model and are scheduled to receive the second-generation VLA distilled version via over-the-air update in the third quarter of 2026.

Source: XPeng

The Ultra SE receives the full second-generation VLA at launch. Both tiers support full-scenario assisted driving covering national highways, city roads, and expressways, as well as point-to-point valet parking. The two entry-level Plus trims retain the previous generation ADAS hardware without Turing chips.

On the battery and drivetrain side, XPeng has switched the battery supplier from BYD's FinDreams Battery to Eve Energy, while keeping pack capacity at 51.8 kWh and 62.2 kWh respectively. The new mixed silicon-carbide flat-wire motor drive system, developed in-house, extends CLTC-rated range by 20 to 30 km without additional battery capacity. Maximum range across the lineup now reaches 640 km (c. 398 miles) on the CLTC cycle, up from 620 km (385 miles) previously.

Energy consumption on the most efficient variant drops to 10.8 kWh per 100 km. All trims use a single front-mounted motor producing 160 kW and 250 Nm of torque, with a 0–100 km/h time of 7.4 seconds. The chassis receives adaptive damping shock absorbers — adjusting stiffness in real time based on road conditions — and a minimum turning radius of 5.3 m.

Source: XPeng

The body measures 4,785 mm long, 1,896 mm wide, and 1,445 mm tall, on a 2,815 mm wheelbase, unchanged from the outgoing model. Trunk volume expands to 621 litres. The exterior gains two new colour options — Roland Purple and Avocado Green — alongside a Cherry Blossom Pink themed package featuring BASF 2K clearcoat, 19-inch dedicated wheels, and Nappa leather seating. Frameless side mirrors are now standard across all trims, and the active grille shutter has been enlarged.

Inside, the 2026 M03 gains a 14-point massage function on front seats, double-layer laminated front door glass and a silver-coated dual-layer panoramic sunroof (blocking 99.97% of UV and 97.6% of infrared radiation), a 20-speaker AI audio system with over 1,000 W output in a 7.1.4 channel layout, and wireless charging boosted to 50 W.

The cockpit runs XPeng's Tianji AIOS 6.0 system on an MT8676 chip with 24 GB of RAM, driving a 15.6-inch 2.5K central display. An industry-first nationwide 3D lane-level navigation system supports seamless 3D/2D switching with junction guidance and beyond-line-of-sight hazard warnings.

Source: XPeng

More than 85% of the 10,000 opening orders were placed for Max variants, mirroring the pattern seen when the original Max trim debuted in May 2025, when the variant captured 83% of first-hour orders. The shift in demand concentration toward higher-margin trims aligns with XPeng's stated strategy of improving per-vehicle profitability through tiered hardware and software bundling — a model the company has deployed across the P7 and G6 lines before applying it to its highest-volume product.

XPeng achieved its first GAAP net profit in the fourth quarter of 2025, posting 380 million CNY (c. $55 million), and has set a target of delivering nearly one million Turing chip units in 2026.

The M03 also carries wider geographic ambitions. XPeng plans to bring Mona-branded products to Europe in 2026 as part of its international push after selling roughly 45,000 vehicles in overseas markets in 2025. Whether the refreshed M03's advanced AI driving stack can find a similar audience outside China — where regulatory frameworks for such systems are more restrictive — remains the more open question.

Conversion rate: 1 USD = 6.888 CNY as of April 2, 2026