China EVs: Xpeng unveils Mona brand with eye on mass-market buyers, global leader BYD

Xpeng unveiled its first model under the new Mona sub-brand, as the Chinese electric-vehicle (EV) maker targets the compact car segment and market leader BYD. The M03 pure electric compact sedan will come with intelligent features, the Guangzhou-based company announced on the Chinese microblogging site Weibo on Tuesday. Xpeng did not provide details such as the car's driving range and level of automation. "Xpeng is targeting budget-conscious customers with the new brand," said Chen Jinzhu, CEO of consultancy Shanghai Mingliang …