Story perspectives

Beijing, Shanghai Malls Shift Focus Amid EV Sales Decline

3/16/2026

Summary

Story summary

EV showrooms in major Beijing and Shanghai malls have largely closed due to declining sales.
Mall owners are attracting new tenants such as Pop Mart, Lululemon, and Unitree Robotics to diversify offerings.
Property consultant James Macdonald says malls now prioritize lifestyle and experiential retail to boost traffic.
Tenant sales performance directly affects rental income growth for landlords.
S&P Global Ratings says optimizing tenant mix is crucial for rental stability.

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Story summary

EV showrooms in major Beijing and Shanghai malls have largely closed due to declining sales.
Mall owners are attracting new tenants such as Pop Mart, Lululemon, and Unitree Robotics to diversify offerings.
Property consultant James Macdonald says malls now prioritize lifestyle and experiential retail to boost traffic.
Tenant sales performance directly affects rental income growth for landlords.
S&P Global Ratings says optimizing tenant mix is crucial for rental stability.