(Yicai Global) July 18 -- In a bid to appease customers furious at the release of a new and cheaper version of the Xpeng G3 sport utility vehicle last week, just months after delivery started of the 2019 model, Chinese electric carmaker Xiaopeng Motors is offering substantial compensation.

The Guangzhou-based firm will buy back old models at 60 percent of the original price if customers choose to purchase a new car three years later, technology information website 36Kr reported today.

It will also gift clients 10,000 points at Xiaopeng Mall that can be used to buy auto supplies or pay for after-sales maintenance services. As for those who have bought but not yet received the 2019 model, they will automatically be shipped the latest version, Xiaopeng Motors said.

It is hoped that customers will accept these atonement measures and be satisfied by them, said Li Pengcheng, head of Xiaopeng Motors' public relations.

The 2020 model boasts significant improvements in battery life and performance. It has the world's furthest driving range of 520 kilometers for vehicles in its class, compared with 365 km in the previous model, as well as some more advanced self-driving features. Yet at CNY135,800 (USD19,750), the starting price of the new model is CNY8,000 (USD1,160) cheaper than last year's model.

Customers stormed the carmaker's Guangzhou headquarters and Beijing service center last week demanding a refund. The company was quick to apologize and offered a subsidy of CNY10,000 to owners who buy an additional vehicle or exchange their current one in the next three years. But disgruntled buyers still said that they felt deceived.