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On the evening of August 13th, Xiaopeng announced that the company had begun to produce the mass production vehicle Xiaopeng MONA M03 for sale and delivery to ordinary customers on July 30, 2024, so the SOP milestone under the share purchase agreement had been reached. Therefore, in accordance with the SOP milestone under the previous share purchase agreement, Xiaopeng has allotted and issued 4.64 million Class A common shares to Didi as SOP consideration shares, accounting for approximately 0.24% of the company's issued and outstanding share capital as enlarged in accordance with the allotment and issue of SOP consideration shares.

On August 28th, 2023, Xiaopeng signed a share purchase agreement with Didi Group to acquire Didi's smart car development business assets at a total consideration of 5.835 billion Hong Kong dollars (US $744 million). There is a bet agreement between the two sides. Xiaopeng paid 3.25% of the shares of the listed company in the early stage, and Didi needs to meet the SOP and annual sales targets in order to acquire further shares. And no more than 5% at most.

Specifically, the acquisition is divided into four stages. In the first phase of the first phase of the share purchase agreement, Xiaopeng has allocated and issued 58.16 million Class A common shares to Didi, accounting for about 3.25% of Xiaopeng's shares, which was completed in November 2023. The second stage is to achieve mass production of SOP, and Xiaopeng has issued an additional 4.64 million shares to Didi.

Since then, the third and fourth stages are related to MONA sales, according to the agreement, if Didi sells 100000 vehicles in the travel system each year, there will be additional consideration, and if the annual sales of 180000 vehicles are reached and the target is achieved for two consecutive years, the highest transaction consideration can account for 5% of Xiaopeng Class A common shares after the transaction is completed.

Xiaopeng MONA M03 was officially released on July 3. As the first model of the MONA series, the MONA M03 adopts a new design and is positioned as a compact pure electric car with a maximum range of 620km, focusing on the market of 10-150000 yuan.

In terms of appearance, Xiaopeng MONA M03 adopts a new design language, the front of the car adopts the closed front design commonly used in pure electric vehicles, but the lower part is equipped with active intake grille, and it is standard in the whole system, which can be intelligently adjusted according to the speed during driving, optimize the wind resistance and meet the cooling needs of the motor. The shape of the headlight group has a high degree of recognition and maintains the same design style as the Xiaopeng car logo. In addition, the Xiaopeng MONA M03 uses the front pressure type front cabin design, the overall design looks more athletic. It is understood that Xiaopeng MONA M03 standard 18-inch low wind resistance rims, but also choose 19-inch sports rims, while providing star blue and star rice two new car paint colors.

On the side of the body, the side design of the Xiaopeng MONA M03 is very simple, equipped with hidden door handles, rearview mirror camera and side camera, and the D-pillar position is also equipped with an air guide. In the rear part, the taillight shape echoes with the headlights and uses the fumigation treatment, together with the ducktail design on the rear door of the trunk to create a young sports atmosphere. In addition, the whole system is equipped with electric hatchback tail door, and the opening height is 1136mm. Under normal conditions, the volume of the rear car is 621 liters. It is expected that the rear seat can be put down, thus expanding the storage space of the back car.

In terms of size, the length, width and height of Xiaopeng MONA M03 are 4780max 1896 / 1445mm mm, wheelbase 2815mm, positioning compact pure electric car. As a comparison, Tesla Model 3's length, width and height 4724/1848/1430mm, wheelbase 2875mm, compared with Xiaopeng MONA M03 are leading in length, width and height, and short wheelbase 60mm.

In terms of power, Xiaopeng MONA M03 will provide two versions with a maximum power of 140kW and 160kW, matching the lithium iron phosphate battery pack provided by Nanning Fudi Battery Co., Ltd., although the battery capacity information has not been released, according to official data, the corresponding CLTC operating mileage of the car is 515km and 620km respectively, which is expected to correspond to the standard and long range versions of Tesla Model 3.

Since the beginning of this year, Xiaopeng car sales have been obviously under pressure, and it has fallen out of the echelon of new car-building forces. Xiaopeng delivered a total of 63000 new cars from 20241 to July, lagging far behind other new power brands. moreover, Xiaopeng is far from achieving its annual sales target of 280000 vehicles, and the current completion rate is only 22.5%.

He Xiaopeng, chairman of Xiaopeng Automobile, has revealed that the price of the MONA M03 is less than 200000 yuan. Xiaopeng Motor and Didi have invested 4 billion yuan in the MONA project, with a sales target of 100000 vehicles per year. As the whole series of products under Xiaopeng, MONA M03 will become the cheapest model under Xiaopeng after its listing, which may bring some market increment to Xiaopeng, but this market is also the most competitive. It is unknown whether Xiaopeng MONA M03 can stand out.

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