The Xpeng Inc. (NYSE:XPEV) P7 all-electric sedan, a potential rival for Tesla Inc.'s (NASDAQ:TSLA) Model 3, secured over 10,000 orders in seven minutes.

Xpeng Launches P7 Sedan In China

The company launched the P7 Sedan with a price of RMB 219,800 or $30,730 for the entry-level trim, helping the car secure over 10,000 orders in seven minutes, CarNewsChina reported on Thursday, citing a statement from Xpeng spokespersons.

The car comes with a single-motor RWD and a dual-motor AWD system. Xpeng offers two battery options for the sedan: a 74.9 kWh LFP battery with a CLTC range of 436 miles and a 92.2 kWh ternary NMC battery option with a claimed CLTC range of approximately 510 miles.

Xpeng offers the car in four trim levels, with the range-topping 750 AWD Scissor Doors trim available for a retail price of $42,190, the report said. 

Xpeng's Software Update Makes Human-Machine Co-Driving Standard

The news comes as Xpeng recently announced a software update for the European market, making the company's Human-Machine Co-Driving system standard. Xpeng claims the update helps Lane Centering Control remain active, even when the driver assumes control.

Tesla's Model Y L, Model 3+

The news comes as Tesla launched two new models for the Chinese Market, the first being a six-seater version of the Model Y SUV, dubbed the Model Y L, which retails for $47,000 in China.

Tesla also launched the Model 3+ trim, a long-range version of the Model 3 sedan in the market, which boasts a range of over 500 miles on a single charge, firmly pitting it against Xpeng's P7.

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