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VIDEO | How are Tesla’s Chinese rivals faring in 2021?

Written by James Chan Published on     1 min read

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Firms like Nio, Li Auto, and Xpeng have since made significant progress to challenge Tesla.

Chinese citizens are expected to buy 1.9 million electric vehicles (EVs) this year, in what is considered the world’s largest EV market by country, according to market research firm Canalys.

China accounted for 41% of EV global sales in 2020, far outweighing other major markets such as the US, where EV sales only represented 2.4% of global sales in 2020. China alone almost equaled Europe, which as a region accounted for 42% of global EV sales.

While the COVID-19 pandemic has impacted EV production in the early part of 2020, the country’s most popular EV firms, including Nio, Li Auto, and Xpeng have since made significant progress to challenge Tesla. The US-based firm has earned the reputation of being the most successful EV manufacturer in China thanks to its Model 3, which became the best-selling EV in 2020.

Check out our video to learn more about the main Chinese players challenging Tesla.

To check out other videos by KrASIA, please visit our YouTube channel.

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