China’s malls host EV showrooms

EV manufacturers in China are opening showrooms in luxury malls to gain a market edge.

More than half the malls in Shanghai have at least one EV showroom and more are planned, according to real-estate service provider Jones Lang LaSalle Inc. They are now part of the “standard configuration” of shopping centres in medium-to-large cities, the firm says, Bloomberg News reports.

Nio, Xpeng and the new-energy arms of SAIC Motor and Geely Automobile Holdings are paying big money for mall space to enhance their image as premium goods for the middle class and differentiate themselves from more established automakers, Bloomberg News adds.

It’s great for mall owners seeking a new breed of tenants as sales increasingly shift online.

EV manufacturers usually want first floor sites – often the most expensive – to attract passing shoppers, and ease of access for display cars and test drives.

Growing demand for EVs could see EV sales in China rise by more than half this year.

The trend to use malls for EV showrooms could extend globally as more EV sales go online.