(Yicai) March 14 -- Shares of Xpeng gained in New York after the Chinese electric vehicle maker launched upgraded versions of its G6 and G9 sport utility vehicles with price cuts of up to 28 percent.

Xpeng [NYSE: XPEV] rose 1.1 percent in after-hours trading after closing 2.4 percent higher at USD25.63 yesterday. However, its Hong Kong-listed shares [HKG: 9868] fell by 3.6 percent to close at HKD92.10 (USD11.80) today.

The updated mid-size G6 and luxury G9 SUVs are now equipped with Xpeng’s Turing AI autonomous driving system and support ultra-fast 5C supercharging, the Guangzhou-based firm announced yesterday.

Within just seven minutes of opening orders, the company received over 5,000 orders for the G6, while the upgraded G9 surpassed 3,000 orders within 45 minutes. The new G6 is priced between CNY176,800 and CNY198,800 (USD24,400 and USD27,500), while the G9 now ranges from CNY263,800 to CNY278,800, reflecting discounts of 6 percent to 28 percent.

Xpeng Chairman He Xiaopeng stated that the price cuts mark a significant industry shift. The cost of vehicles with the 5C supercharging technology, which delivers up to 500 kilowatts of power, has dropped to between CNY200,000 and CNY300,000, compared with the previous CNY400,000 to CNY500,000. The battery system enables a 10-minute charge to add up to 450 kilometers of range, with both models achieving a maximum range of 725 km.

The revamped G6 features over 30 percent of its primary assembly parts upgraded, along with 81 user experience improvements and enhancements in exterior styling, interior design, and handling. The new G9 now integrates Qualcomm’s Snapdragon 8295P chipset, significantly boosting computing power. It also features an AI-powered chassis that scans road conditions 1,000 times per second and delivers adaptive suspension adjustments at a frequency of 200 times per second.

Moreover, Xpeng has switched to a pure-vision solution for autonomous driving, replacing its former light detection and ranging (LiDAR) technology. The firm pointed out that while Tesla charges CNY64,000 for its Full Self-Driving system, Xpeng’s Turing AI technology is offered at no extra cost.

The Tesla rival is also making strides in its other AI endeavors. The Xpeng humanoid robot and flying car will enter mass production next year, with over 4,000 pre-orders received for the aircraft so far, Chairman He added.

Last month, Xpeng delivered more than 30,450 vehicles, jumping by nearly sevenfold year-over-year and marking its fourth consecutive month of surpassing 30,000 units. In the first two months of this year, deliveries surged nearly five times to surpass 60,800 units.

Editor: Emmi Laine