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BYD's Qin EV300: The Chinese automaker was the only domestic manufacturer among the top selling brands according to a recent survey. (Photo by Akira Kodaka)
FT Confidential Research

Foreign electric cars favored in China but shakeout looms

Subsidies help drive demand as BYD set to take on market leaders: FTCR

| China

The gold rush triggered by the Chinese government's embrace of electric cars will lead to an industry shakeout that could see many of the market's current leaders left behind.

Of the industry's current leaders by sales, only Shenzhen's BYD features among the most favored electric car brands among consumers, according to an FT Confidential Research survey. Instead, respondents showed an overwhelming preference for electric cars made by the global auto giants, even though many are still developing their technologies and most are yet to begin selling in China (our survey excludes high concept, tech-funded start-ups such as Nio, Byton and Xpeng).

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