Going straight after Model Y
Tesla has already responded to slowing European demand by introducing a lower-priced Model Y Standard. However, Xpeng has positioned the L03 below it by offering a longer list of standard features.
The comparison illustrates the different approaches.
Tesla’s base Model Y still offers a longer certified driving range — 534 km WLTP compared to 445 km for the entry-level L03.
But the Xpeng counts with faster peak charging, more standard equipment and a long-range version that approaches Tesla’s range while remaining less expensive.
Norway may be the most important strategic market.
The country’s revised tax policy now applies 25% VAT only to the part of the purchase price of an EV that exceeds 300,000 kroner.
Pricing the L03 at 299,900 kroner, the Xpeng remains just below the threshold, maintaining the vehicle’s tax advantage by a margin of just 100 kroner.
A price that would stand out even in the USA
Because European vehicle prices include value added tax, direct comparisons with US sticker prices can be misleading.
Excluding VAT, the price of the L03 translates to approximately:
