China's XPeng unveiled its new L03 sport utility vehicle in Munich, marking the company's first global vehicle launch outside China as it steps up expansion in Europe and other overseas markets amid intensifying competition at home.

The L03 model has a starting price of 35,600 euros, equivalent to about $40,800, in Germany for the battery-electric version, while the extended-range model starts at 38,600 euros. In China, prices range from 123,800 yuan to 156,800 yuan, equivalent to around $18,300 to $23,045.

XPeng also announced a partnership with Google Maps for vehicles sold outside China. The integration allows drivers to access Google Maps directly through the vehicle's navigation system without downloading the app or relying on smartphone mirroring.

The launch came as XPeng and other Chinese automakers increasingly look overseas for growth following years of fierce price wars and rapid growth in their home market. China's auto sales remained weak in June, with retail sales of passenger cars slumping 20.2% in the first half, the China Passenger Car Association data showed.

Unlike the MONA M03 sedan, which is available only as a battery-electric vehicle, the L03 is offered in both battery-electric and extended-range variants.

Chief Executive He Xiaopeng said the company decided to offer the L03 in both battery-electric and extended-range versions after observing that charging infrastructure remains underdeveloped in many overseas markets, including parts of Mexico and Africa.

"There are many clients in the world that need to choose different energy solutions depending on the infrastructure available in their countries," he said after the launch event.

The L03 will face stiff competition in China from rivals including BYD's Yuan Plus, Leapmotor's C10 and Geely's Galaxy lineup, Jefferies analysts said ahead of the launch event in a note. Still, they said the model "has a real edge on smart driving and design," while adding that its market performance would ultimately depend on pricing.

Europe has become one of XPeng's key overseas markets as Chinese EV makers seek growth beyond an increasingly competitive domestic market. The company has a research and development center in Munich and produces cars at Magna Steyr's Austria factory.

Write to Jiahui Huang at jiahui.huang@wsj.com

(END) Dow Jones Newswires

July 16, 2026 12:55 ET (16:55 GMT)

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