· Sales of Electric Vehicles (EVs) achieved more than two million units globally in 2018, an increase of 63% y-o-y. This rapid growth trend has been especially visible in China, which accounted for one out of every two EVs sold globally in 2018, making it the world’s largest market by volume.
· As the industry grows, EV brands have become a visible presence in China’s retail leasing market, establishing stores that often resemble high-end luxury retail outlets rather than traditional car dealerships.
· Some EV brands have leased prominent locations in malls or along prime streets, while others have utilised their stores for educational and publicity purposes rather than purely for sales.
· This ViewPoint by CBRE examines the emergence of EV brands from a property perspective and identifies optimal leasing strategies for EV brands seeking to enter or extend their presence in the world’s biggest EV market. The report also provides advice for landlords considering leasing space to tenants from this rapidly growing and dynamic industry.