Chinese Buyers are Price, Range Conscious When Considering EV Purchase

Image: NIO

With a range of electric vehicle (EV) options recently becoming available to buyers in China – like BYD, NIO, Xpeng Motors, Wuling HongGuang, and others – some are electing to buy local, instead of imported options like Tesla.

According to qualitative research collected by CNBC, Chinese EV buyers considered factors like price competitiveness, driving range concerns, and general EV infrastructure when deciding which EV to purchase.

https://twitter.com/alvinfoo/status/1367099034389733378

And while Tesla remains among the top-selling EVs in China, those looking to buy affordable models went with Wuling – which almost doubled sales of Tesla’s Model 3 with its Mini EV in January – and others trying to stay local went with luxury options from BYD, NIO, and Xpeng.

Chinese EV Startup Li Auto to Sell Fewer Vehicles Than Rival NIO https://t.co/rBVBp3ddvo

— TeslaNorth.com (@RealTeslaNorth) February 26, 2021

For EV buyers around the world, range and range anxiety tend to be among the most common buying factors, since many are still concerned that their EVs won’t take them where they need to go. Some in China, like Zhang Zhen, 41, went with the Li One, which includes a fuel tank that can be used to charge the battery up to 497 miles (180 km) on one charge.

In any case, Tesla has been dominating the global market, but there’s no telling if this will remain the case as more buying options become available. At the very least, the Chinese auto market is also the world’s largest auto market, so continued success for Tesla within the country would bode well for the EV brand down the line.