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Electric cars: Chinese Tesla rivals stand to benefit as budget-cautious consumers opt for cheaper models in 2023
Domestic carmakers like BYD, Li Auto and Leapmotor will become beneficiaries of a ‘consumption downgrade’ as motorists worried about the economy drift down market towards cheaper models, analysts and dealers said.
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Chinese electric-car buyers opt for cheaper models as gloomy economic outlook takes toll on sales
Premium electric-carmakers in China are bearing the brunt of a slowdown, with some players cutting prices to survive cutthroat competition.
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