Rich Chinese embrace domestic high-end EVs as tech and driving experience eclipse prestige

Younger, professionally diverse Chinese are turning to local brands for technology and qualities once tied to foreign marques

His next purchase, he said, would be a six-seat premium electric minivan equivalent from a Chinese brand, with a budget of about 1 million yuan (US$148,000).

Huang’s choice shows that even while China’s ultra-luxury car market has slowed overall, a growing segment of drivers, with a penchant for domestic brands, are still opening their wallets for top-end EVs.

A report by Beijing-based consultancy Guanyan Tianxia on China’s luxury car market and investment from 2025 to 2032 said Chinese luxury-car buyers were becoming younger and more professionally diverse, with technology and driving experience increasingly outweighing the prestige of traditional luxury names.