Affordable Electric Vehicles from Nissan Are Gaining Popularity in China, Contrastingly Honda Finds Less Success
In the rapidly growing electric vehicle (EV) market in China, Honda finds itself facing challenges with its S7 and P7 models. Despite being electric vehicles, these models have failed to garner significant interest from Chinese customers, as Honda had hoped.
On the other hand, Nissan is experiencing a surge in popularity with its N7 sedan. Launched this year, the N7 was priced at an affordable 119,900 yuan ($16,800), significantly lower than the initial price of the Honda S7, which was 259,900 yuan ($36,300).
Honda, however, is not giving up on the Chinese market. The company is attempting to penetrate the market with its locally developed Ye series, in partnership with local firm Momenta. This partnership aims to introduce advanced driving-assistance technologies and advanced artificial intelligence features from DeepSeek.
The Ye series, like the N7, is tailored to local tastes and expectations. In contrast, the S7 and P7, despite a price reduction of 60,000 yuan ($8,400) less than a month after their launch in China, have not been able to match the demand for the N7.
Nissan's success in China is evident in the number of orders and deliveries. In its first month, the N7 secured 17,000 orders, while in August, Nissan delivered 10,148 examples of the N7. Honda's EVs, on the other hand, have not sold more than 10,000 units in any single month.
The lack of hands-free autonomous driving is a notable disadvantage for both the S7 and P7, a feature that is becoming more common in the Chinese market. This, coupled with Honda's pricing strategy, seems to have missed the mark.
While Honda's sales in China have been overshadowed by the broader NEV market growth, where electric vehicle sales surged past one million units per month as of August 2024, with NEVs representing over 50% of new car sales in China, the company is determined to make a comeback with its locally developed Ye series.
As the competition in the Chinese EV market continues to heat up, it will be interesting to see how Honda fares with its locally developed Ye series and whether it can regain its footing in this fast-growing market.
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