XPeng CEO says they are close to beating Tesla's Model Y with their L03 all-electric SUV, priced lower at $40,700.

This Chinese SUV has integrated Google Maps and FSD-like capability, all for about $3,500 cheaper than a Tesla Model Y.

The XPENG L03 combines AI-powered driving, BEV and range-extender options in a global strategy that could reshape how Chinese automakers compete beyond China.

XPeng CEO says they are close to beating Tesla's Model Y with their L03 all-electric SUV, priced lower at $40,700.