--- title: "China mall shuffle: as EVs exit, who’s filling the ground-floor showrooms?" type: "News" locale: "en" url: "https://longbridge.com/en/news/279149005.md" description: "Several years ago, prime ground-floor spaces in major shopping malls across Beijing and Shanghai were occupied by electric vehicle (EV) showrooms. However, many of these stores have closed due to sluggish EV sales, leading to a shift in tenant demand. New tenants include brands like Pop Mart and Lululemon, which are attracting crowds and boosting rental income. Malls are now focusing on lifestyle and experiential retail formats. In the first half of 2025, rental income for China Resources Land increased by 9.9%, indicating a positive trend in mall performance as they adapt to changing consumer interests." datetime: "2026-03-15T09:15:53.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/279149005.md) - [en](https://longbridge.com/en/news/279149005.md) - [zh-HK](https://longbridge.com/zh-HK/news/279149005.md) --- # China mall shuffle: as EVs exit, who’s filling the ground-floor showrooms? Several years ago, prime ground-floor spaces in major shopping malls across Beijing and Shanghai’s business districts were commonly occupied by electric vehicle (EV) showrooms, with staff often escorting customers to car parks for test drives. Many of these stores have now closed amid sluggish EV sales – yet mall owners have not been left disappointed. Instead, a new retail landscape is emerging, filled with tenants who are proving to be even more effective at drawing crowds and boosting rental income. The new demand for retail space comes from brands shaped by very different trends. They include toy giants like Pop Mart, sportswear labels such as Lululemon, and most recently robotics companies including Unitree Robotics, according to property consultants. “From the landlord perspective, malls may also have become less eager to host EV showrooms than they were initially,” said James Macdonald, head of research for China at property consultant Savills. “As the sector has matured, many malls have placed greater emphasis on lifestyle, dining, entertainment and experiential retail formats that tend to drive more consistent consumer traffic.” Tenant sales performance is crucial to landlords’ retail portfolios as it is closely correlated with rental income growth. Outperformance of tenant sales could drive positive rental reversions and higher occupancy, according to S&P Global Ratings. “We believe the ability of mall operators to swiftly optimise tenant mix to cater to spender needs is key to protecting them from a rental drop,” said Edward Chan, a Greater China property analyst at S&P Global Ratings. In the first half of 2025, state-owned China Resources Land posted 10.4 billion yuan (US$1.5 billion) in rental income from its 125 shopping malls on the mainland, up 9.9 per cent year on year. Combined sales across the malls reached 110.1 billion yuan, rising 20.2 per cent from a year earlier, according to its earnings. Over the same period, Chinese developer Seazen Group posted 6.9 billion yuan in total commercial operation revenue, up 11.8 per cent year on year. It operated 174 Wuyue Plaza malls in mainland China. In the early days of China’s EV market, foreign and domestic brands such as Tesla, Nio, Xpeng and Li Auto opened mall showrooms to build credibility and visibility. As the market matured, however, many became established players, reducing their need for high-profile mall space, analysts said. Companies like Xiaomi and Huawei continued to showcase their vehicles in malls alongside their smart devices, as “their retail strategy is built around a broader ecosystem of consumer electronics and smart devices, with vehicles forming part of a wider smart lifestyle offering”, Macdonald said. In the fourth quarter of 2025, the average monthly rent for ground-floor space in Beijing’s high-quality shopping malls stood at 746.30 yuan per square metre, down 0.3 per cent from the previous quarter, according to Savills. Among those filling the empty EV showrooms is Chinese robotics start-up Unitree Robotics, which has completed initial public offering tutoring and is moving closer to a Shanghai Star Market listing. It opened its first store worldwide at Beijing’s JD Mall on December 31. The store sells products such as its G1 humanoid robot, priced from 85,000 yuan, and the Go2 robotic dog, starting at 9,997 yuan. Some robots are displayed on benches, while others perform movements and hip-hop dance shows, drawing large crowds. Wang Qixin, chief marketing officer of Unitree Robotics, said the store prioritised consumer engagement over sales, and the company planned to open more mall locations. “As with EVs in the early days, physical showrooms can help build brand recognition, showcase applications and generate public interest in emerging technologies for robotics companies,” Macdonald said. Meanwhile, Canadian athletic apparel retailer Lululemon is opening larger-format stores on prime ground floors of malls in China. In the third quarter of its 2025 financial year, its mainland China sales jumped 46 per cent year on year, and the company is continuously expanding its market share by opening new outlets nationwide. Toymaker Pop Mart, listed in Hong Kong, is also opening larger-format stores on ground floors. On February 1, it opened a new large store on the first floor of The Central mall in downtown Nanjing, eastern Jiangsu province, attracting a large number of visitors. “Shopping malls that actively manage their floor space based on evolving consumer interests tend to attract higher foot traffic compared to those that do not,” said Sandy Lim, a China consumer analyst at S&P Global Ratings. “This suggests that malls can continue to draw visitors as long as categories such as toymakers and robotics companies remain in favour,” Lim said. “However, consumer interest often peaks over time, and adjustments to floor plans should be expected as trends evolve.” ### Related Stocks - [09992.HK](https://longbridge.com/en/quote/09992.HK.md) - [01209.HK](https://longbridge.com/en/quote/01209.HK.md) - [01109.HK](https://longbridge.com/en/quote/01109.HK.md) ## Related News & Research - [Pop Mart International Group (OTCMKTS:PMRTY) Sees Large Volume Increase - Here's Why](https://longbridge.com/en/news/282735756.md) - [Boost for Pop Mart’s shares from buyback likely limited](https://longbridge.com/en/news/280724952.md) - [China Resources subsidiary acquires Hong Kong hotel for student housing project](https://longbridge.com/en/news/277354397.md) - [Pop Mart’s $33 Billion Rout Casts Doubt on Life After Labubu](https://longbridge.com/en/news/281434908.md) - [A C-Suite executive at Pop Mart's biggest Chinese competitor explains what goes into making a hit toy like Labubu](https://longbridge.com/en/news/281606541.md)