Gelonghui on November 8th | Daiwa issued a report stating that Xiaopeng P7+ is redefining AI autos with ambitious pricing. The successful launch of P7+ should increase the market share of smart features in consumers' minds and stimulate the purchase intention of smart electric cars. The bank expects P7+ to have competitive configurations and pricing, further driving Xiaopeng's order momentum after MONA M03. The key now lies in the execution performance of mass production. Daiwa pointed out that the starting price of Xiaopeng P7+ is 0.1868 million yuan, lower than the market's expectations of 0.19 million to 0.2 million yuan, pricing unexpectedly. P7+'s price is on par with other similar level BEVs, such as BYD's Han BEV, but comes with more powerful ADAS and smart features as standard equipment. According to management, P7+ will start delivering in large quantities today, with pre-orders exceeding Mona M03. Daiwa believes it is time for Xiaopeng to demonstrate its execution capabilities and expects the market to pay more attention to automotive gross margin and supply volume improvements. The bank maintains its "shareholding" rating with a target price of $17.