Tesla Motors, Inc. (NASDAQ:TSLA), NIO Inc. (NYSE:NIO) - Beyond Tesla And Nio — Companies Exploit China's Mass EV Potential
Nio Inc (NYSE: NIO), and Xpeng Inc (NYSE: XPEV) may have made their mark on the Chinese consumer, but low-priced EVs are enjoying the mass appeal in the East Asian country. Huge Customer Base: EVs, such as a $10,000 crossover vehicle made by Hozon Auto, are attracting customers due to lower maintenance costs and a smaller price tag, reported Bloomberg. “These ultracheap EVs are reaching a new customer in China, as they likely will in other markets as prices come down,” said Siyi Mi, a BloombergNEF analyst. Widening Choice: Availability of a wider range has the Chinese consumer spoilt f...
Source: benzinga.com