• Two spy shots have surfaced of what is believed to be the inaugural SUV model from the Mona lineup, which is expected to offer competitive pricing similar to the M03.
• From January to August, the Mona M03 delivered 117,443 units, accounting for 43.24 percent of Xpeng's total deliveries during the same period.

Xpeng (NYSE: XPEV) appears to be developing a second model for its Mona lineup, following the August 2024 launch of its inaugural Mona M03 electric sedan.

Two images circulating on Chinese social media revealed what is believed to be the first SUV (sport utility vehicle) model from the Mona lineup.

The SUV features a front face similar to the Mona M03 and appears to be a compact SUV, potentially measuring between 4.6 and 4.7 meters in length, according to several bloggers on Chinese social media platform RedNote.

It will feature frameless doors and half-hidden door handles, these bloggers said.

This marks the first spy shots of the Mona lineup SUV. The series' inaugural model, the M03, was launched on August 27, 2024, and has since become Xpeng's best-selling vehicle.

Given the M03's positioning, the Mona series SUV is expected to offer competitive pricing, potentially driving higher sales volumes for Xpeng.

The Mona M03 delivered 15,334 units in August, marking its 12th consecutive month surpassing the 10,000-unit mark and accounting for 40.66 percent of Xpeng's monthly deliveries, according to data compiled by CnEVPost.

From January to August, the electric sedan delivered 117,443 units, contributing 43.24 percent of Xpeng's total deliveries during that period.

This success stems primarily from its competitive pricing. The M03 starts at RMB 119,800 ($16,820), roughly half the price of Tesla (NASDAQ: TSLA) Model 3 while offering larger dimensions.

Mona originated from Xpeng's August 2023 acquisition of the electric vehicle business from ride-hailing giant Didi Global.

Xpeng initially positioned Mona as an independent brand but later shifted strategy, integrating it as a product lineup under the Xpeng brand.

Earlier this week, Xpeng chairman and CEO He Xiaopeng told CNBC that the company would launch Mona series vehicles in Europe next year.

"In 2026 you can expect a variety of Mona products launched into the Chinese and European markets, as well as in rest of the world," Mr. He said.

($1 = RMB 7.1227)