Tesla Motors Inc TSLA 2.81%’s new Model 3 has logged more than 400,000 global pre-orders in about a month since its highly-anticipated unveiling. China is Tesla’s largest international market, generating $319 million in revenue last year.
However, the Model 3 may not have the same kind of game-changing potential in China that it could have in the United States.
“As the infrastructure for new-energy vehicles (NEVs) is not mature enough, [Chinese] customers will prefer cheaper models,” Automotive Foresight analyst Zhang Yu explained.
Although the Model 3 is expected to be much more affordable than previous Tesla models, Zhang said it won’t be cheap enough for the Chinese mass market.
“It may manage to draw people’s attention, but Model 3 won’t be able to be a game-changer in the Chinese market,” he concluded.
Tesla’s head of global sales and service Jon McNeill expects China to become the largest electric car market in the world. It remains…
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