Geely Auto’s Galaxy and Xpeng’s Mona 03 are emerging as strong competitors to Tesla’s Model 3 in China, targeting middle-income buyers with budget constraints.

Priced around 150,000 yuan (US$20,580), these EVs offer similar features at lower cost.

The Mona 03, launched in August 2024, is priced between 119,800 yuan (US$16,393) and 159,800 yuan (US$21,867).

In January 2025, deliveries exceeded 15,000 units, contributing to an overall EV market increases of 31% year-on-year, reaching 900,000 units.

At a lower price point, the Mona 03 directly competes with Tesla’s Shanghai-made Model 3, which starts at 227,500 yuan (US$31,131).

Geely’s Galaxy EV, also competitively priced, appeals to trend among young, middle-income drivers who prioritize affordable options.

This trend reflects economic concerns such as job stability and income fluctuations.

As cost-conscious consumers seek advanced yet affordable options, both models are reshaping China’s EV market dynamics.