BEIJING, Aug 27 (Reuters) - Chinese electric vehicle

maker Xpeng ( XPEV ) on Tuesday priced the first model under

its budget sub-brand MONA at $16,813, wedging into the

mainstream, yet hyper-competitive segment of the world's largest

auto market where demand slows.

The MONA M03 electric hatchback coupe is Xpeng's ( XPEV ) most

affordable model which will join other EVs priced in the range

of 100,000-150,000 yuan ($14,035-$21,052) to compete in the

segment that makes up one-third of total domestic car sales.

It is 23.7% cheaper than the lowest priced Xpeng EV, the P5

sedan, which is priced from $22,000.

($1 = 7.1253 Chinese yuan renminbi)