Asia Tech Wire (July 3) -- Chinese electric car maker Xpeng Inc. (9868.HK, NYSE: XPEV) will launch a new electric car in August.

The new car, the MONA M03, will go on sale in August at a price of less than 200,000 yuan, Xpeng Chief Executive Officer He Xiaopeng said Wednesday.

He said the new car will not be available in a cab version.

The company will offer different smart-driving programs for different needs in Xpeng MONA M03 to give users more choices, he noted.

He also emphasized that Xpeng MONA M03 has the most powerful smart driving program in its class.