Your statement is self-defeating - if those vehicles aren't competition for the M3, then people choosing them weren't going to buy the M3 in the first place.
Have you looked into the Leaf? You can buy a very well equipped one for $37K. It'll have a version of autopilot, leather, CarPlay, heated everything, etc. It's a hatchback, meaning way more cargo space. The $35K M3 won't have that stuff. Yeah, the Leaf will have a 140 mile range vs 220, but is that really much of a limitation? Are people really going to take the SR M3 on long road trips? Maybe a few, but for the bunch that don't, it's a non-issue. You'll also get a car from a company that has been making mass market EVs for 8 years, makes a few million cars a year, and has a strong reputation for reliability. Pretty easy to see why someone would buy a Leaf. That said, the Leaf is really nothing like a $60K upgraded LR AWD M3, which is why I'm still driving a 13 year old Toyota and have plunked down $3,500 to wait for a car I've never driven rather than owning a Leaf now.