NIO SALES SURGE

BEIJING — Chinese consumers thinking about whether to buy Tesla’s electric cars or local alternatives have two things at the top of their minds: price and driving range.

That’s according to anecdotes gathered by CNBC — conversations from around the country that do not represent qualitative research. But the comments shed light on what some consumers care about in China, the world’s largest auto market.

U.S.-listed Chinese car start-ups Nio, Xpeng and Li Auto saw deliveries surge last year despite a slump in the overall auto market and the coronavirus pandemic. Shares of the companies soared in 2020, but pulled back slightly this year.

To be clear, Tesla is still the market leader for high-end electric vehicles in China. During a quick check at the start of the evening commute one day, CNBC found 11 Tesla cars passing by, along with two Nio SUVs, one from WM Motor and Xpeng’s latest P7 sedan - link