Hyperdrive
China’s EV Makers Target Drivers Who Can’t Afford a Tesla
The government has announced incentives to spur sales in small cities, towns, and rural areas.
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China buys more electric vehicles than any other country, and most sales occur in big cities such as Beijing and Shanghai. EV buyers there can afford to spend 300,000 yuan ($43,000) on a sedan like the Tesla Model 3.
Fang Yunzhou, chairman of one of Tesla Inc.’s local rivals, has a different customer in mind: a consumer who lives in a less affluent small city or even a farmer in the countryside. “Our goal is to provide a real product affordable for the whole market, rather than a rich kid’s toy,” he says.