Chinese electric vehicle (EV) manufacturers BYD and Xpeng are shifting their focus to higher-end SUV models, targeting a more affluent market in a bid to differentiate themselves from competitors. The move comes as the country's EV market continues to experience rapid growth, with many consumers opting for smaller, more affordable vehicles. However, industry experts warn that the move to upmarket SUVs may lead to a supply glut, as demand for lower-end models remains strong. As BYD and Xpeng invest heavily in new luxury SUV models, they must balance their desire for premium sales with the risk of flooding the market with high-end vehicles that may not find sufficient buyers.
China's EV makers BYD, Xpeng move SUVs upmarket but risk glut Nikkei Asia
