March 18 (Reuters) - Chinese electric vehicle maker

XPeng ( XPEV ) on Tuesday forecast first-quarter revenue above

estimates, betting on the launch of its lower-priced G6 and G9

SUV models as well as its foray into European markets.

China has a hyper-competitive EV market where carmakers

try to undercut the competition by offering a bevy of features

at a much lower cost than their Western counterparts.

XPeng ( XPEV ) forecast first-quarter revenue of 15 billion yuan

to 15.7 billion yuan, the midpoint of which is above analysts'

average estimate of 14.86 billion yuan, according to data

compiled by LSEG.

The Guangzhou-based company expects to deliver between

91,000 and 93,000 vehicles in the first quarter, which is about

317% to 326.2% higher than a year ago.

Earlier this month, XPeng ( XPEV ) revealed its refreshed G6 and G9

SUVs at prices lower than their previous models.

The new G6 starts at 176,800 yuan ($24,402), 11.6% lower

than its predecessor, while the starting price of the G9 is 5.7%

lower at 248,800 yuan, XPeng ( XPEV ) Chairman He Xiaopeng said at a

press conference.

Both models are equipped with the proprietary Turing AI

smart driving system without an extra charge, Xiaopeng said.

The company also signed agreements with distributors

Inchcape and Hedin in Europe this month to enter the Polish,

Swiss, Czech and Slovak markets.

XPeng ( XPEV ) is expected to break even sometime later in 2025,

President Brian Gu had said in an interview with Reuters in

November.

The company delivered 91,507 vehicles in the fourth quarter,

up 52.1% from a year ago.

Revenue for the quarter ended December 31 was 16.11 billion

yuan, beating estimates of about 16.02 billion yuan.