CNBC | Evelyn ChengBEIJING — Hot competition in China's electric car market is pushing local automakers to sell vehicles with fancy tech that Tesla doesn't yet offer in the country — and sometimes at lower prices.
Tesla's cars don't come with those accessories, and Elon Musk's automaker only offers a limited version of its driver-assist tech in China right now.
Xpeng 's G9 SUV, widely considered a leader in China for driver-assist tech on city streets, starts at 289,900 yuan.
That's because electric car batteries and other parts aren't made in the U.S., which means American companies are already paying a premium for core components of the electric car, Li said.
Traditional foreign auto giants like Volkswagen are struggle to adjust to the surge of electric cars in China, while domestic companies, including smartphone company Xiaomi and Geely-backed startup Zeekr, are rushing to release electric cars.
Persons:
Evelyn Cheng, Tesla, Elon, Li Yi, Aito, Li Auto, Yiming Wang, Wang, Li, wasn't, Appotronics, aren't, BYD, Zhong Shi, Omer Ganiyusufoglu
Organizations:
CNBC, Elon Musk's, Huawei, HSBC, Consumers, China Renaissance Securities, Price, U.S ., U.S, China Automobile Dealers Association, BYD, Volkswagen, German's National Academy of Science, Engineering
Locations:
Evelyn Cheng BEIJING, China, Shenzhen, Europe, Shanghai, U.S, Tesla