Xpeng Unveils G6 Electric SUV in Thailand: A New Era for EVs

Xpeng (NYSE: XPEV) has launched its first model in Thailand after signing a deal with a local dealer five months ago.

The Chinese electric vehicle (EV) maker unveiled the right-hand drive version of the Xpeng G6 sport utility vehicle (SUV) at an event in Thailand on Aug. 21, marking a major step in its expansion in Southeast Asia, according to a statement today.

The current vehicle system language for the G6 available in Thailand is English, and Xpeng plans to offer a Thai version of the system in the future.

Xpeng will provide customers with a full range of services by building a marketing and service network in major cities in Thailand, the company said.

The company will also launch the G6 in Malaysia this month and begin selling the electric SUV in markets such as Singapore and Australia next month, the company said.

Similar to other automakers, including BYD (HKG: 1211, OTCMKTS: BYDDY), Xpeng sells cars in Thailand through partnerships with local dealers.

On March 26, at the 45th Bangkok International Motor Show, Xpeng announced a long-term strategic partnership with Thai dealer group Neo Mobility Asia.

Xpeng has significantly stepped up its international expansion efforts this year. In its Aug. 20 earnings report, management said the company’s global models and presence in overseas markets are entering a phase of faster growth, which will be a key driver of revenue and profit growth.

In the second quarter, overseas markets accounted for more than 10 percent of revenue for the first time, according to the company, with deliveries up 30.17 percent year-on-year in the second quarter and 38.43 percent in the first quarter.

By the end of July, Xpeng had expanded its presence to more than 30 countries and regions through dealer partners and had more than 70 retail stores across Europe, the Middle East and Latin America, Xpeng management said.

According to the company, Xpeng will expand into more right-hand drive markets in the second half of the year, including the UK, Australia and Southeast Asia.

The number of Xpeng stores in international markets is expected to double in the second half of this year, company executives said.