- The move aims to reduce reliance on a single supplier and lower costs.
- The Mona lineup will use Eve Energy batteries for the base versions, while the long-range versions will continue to use BYD batteries.
Xpeng (NYSE: XPEV) will introduce new battery supplier Eve Energy for its Mona lineup to reduce reliance on sole supplier BYD (OTCMKTS: BYDDY), according to a new report.
The electric vehicle (EV) maker plans to use batteries from Eve Energy in the base models of subsequent Mona lineup vehicles, local media outlet Jipian Lab reported today.
The long-range version of the Mona series will continue to use BYD batteries, the report cited an industry chain source as saying.
The Mona series currently has only one model, the M03, on sale. It was launched in China on August 27, 2024, with a starting price of RMB 119,800 ($16,820), half the price of Tesla (NASDAQ: TSLA) Model 3.
The electric sedan utilizes blade batteries based on lithium iron phosphate (LFP) chemistry supplied by BYD’s battery unit FinDreams Battery, according to its regulatory filings.
Eve Energy’s battery solution employs traditional prismatic cells, offering greater layout flexibility compared to BYD’s short blade batteries, Jipian Lab noted.
This helps reduce reliance on a single supplier and control costs, the report said.
Xpeng’s primary battery suppliers are CALB, Eve Energy, and BYD, with CALB dominating the majority share. It supplies batteries for the 2025 G6, G7, G9, and X9 models.
Eve Energy supplies the P7+ and 2024 X9, while BYD holds the entire battery share for the Mona M03.
Additionally, Eve Energy will supply batteries for the extended-range version of the Xpeng G7, as indicated by a prior regulatory filing.
BYD ranked second in China with a power battery installation volume of 13.02 GWh in August, capturing a 20.85 percent market share, according to data released by the China Automotive Battery Innovation Alliance (CABIA). Its batteries are primarily used in its own new energy vehicles (NEVs).
CALB ranked third in August with 5.03 GWh of battery installations, holding an 8.05 percent market share. Eve Energy was fifth with 2.74 GWh of installations and a 4.39 percent share.
Xpeng appears to be developing a second model in its Mona lineup, as revealed by spy photos last week.
This will be an SUV (sport utility vehicle) featuring a front face similar to the Mona M03.
The Mona M03 delivered 15,334 units in August, marking its 12th consecutive month surpassing the 10,000-unit mark. It contributed 40.66 percent to Xpeng’s monthly deliveries, according to data compiled by CnEVPost.
From January to August, the electric sedan delivered 117,443 units, accounting for 43.24 percent of Xpeng’s total deliveries during the same period.
($1 = RMB 7.1141)
