By Yilei Sun and Brenda Goh
BEIJING/SHANGHAI (Reuters) – New models will help electric vehicle sales in China zoom this year, after tepid business in a virus-riddled 2020, and analysts predict Tesla’s Model Y pricing will emerge as a major disruptor in the world’s biggest car market.
Tesla Inc, which became the world’s most valuable car maker last year, started selling locally made Model Y SUVs in China this month, for almost a tenth less than gasoline-powered luxury cars with similar market positioning.
It set the starting price at 339,900 yuan ($52,376), or 10% below official prices of Daimler’s Mercedes GLC, BMW’s X3 and Audi’s Q5L – all locally made gasoline sport utility vehicles (SUVs) with similar size and positioning.
“The pricing will disrupt the conventional premium cars market and shatter the traditional belief that the cost of an electric vehicle (EV) should be higher,” said…