They gain “territory” n BMW and the Tesla in China as they are considered the most popular and affordable brands for the growing middle class.
Liu Yifanfk lives in Shenyang, the capital of Liaoning Province in northeastern China, and he replaced his compact car with a BMW sedan in 2012 as he believed the German brand had become affordable for most Chinese families.
He works for a foreign-owned company, with an annual family income of more than 300,000 yuan (39,519.15 euros), and is considered to belong to China’s rapidly growing middle class of consumers.
In the past, car brands like BMW and Tesla were considered luxury carswhile they have now become popular among Chinese consumers, as they cover their desires to serve their upgraded needs.
In China, the BMW Group has set up its largest production base in the world, and it has also set up its largest research and development (R&D) center outside of Germany.
This year, BMW, as reported by the Athens News Agency, plans to start the exclusive production of electric vehicles in China.
The development of new energy technology vehicles in China has opened a new horizon of economic and commercial development for foreign automobile manufacturers.
Source: News Beast
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