Chinese EVs Are A Big Threat To Western Automakers Because People Can Actually Afford Them

The average Chinese EV costs less than half as much as the average American or European EV, which leads to a price gap that keeps widening

If you want to buy an electric vehicle in the United States, the cheapest option costs more than twice as much as the least expensive internal combustion vehicle on the market. If you want to buy a new EV in China, the most affordable option costs nine percent less than the cheapest internal combustion vehicle available to you. This is a sign of the price gap that keeps growing wider in the automotive industry. While the EVs being sold by legacy automakers in the U.S.

In order to conceal the cost of the battery, the majority of EVs are crossovers and SUVs and tend to be premium vehicles. By contrast, less expensive battery chemistries in China have helped drive down the cost of EVs. Not every aspect of China's cheap EVs is so rosy, though. Robust unions in the U.S. and Europe mean that workers are paid considerably more there.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Carscoop /  🏆 306. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Swanson: Big crowd for Colorado-UCLA hints at what Big Ten games will feel likeIt was UCLA’s homecoming game, but thank Deion Sanders and his swaggering Colorado team for the surge in interest and attendance at UCLA’s victory.
Read more »

Big progress and big uncertainty in border pollution fightThere's a lot Republicans won't like in Biden $56 billion emergency spending bill, which now includes $310 million for San Diego's border sewage problem
Read more »

Study: Fueling EVs Really Costs $17 Per GallonA new study out of the Texas Public Policy Foundation, which has received contributions from oil giants Exxon and Chevron, finds that the actual hidden costs of fueling an electric vehicle, which some allege equates to $1.21 per gallon of gas, is more like $17 per gallon.
Read more »

Car Companies Are Suddenly Super Worried About the Future of EVsScience and Technology News and Videos
Read more »

Phoenix Uber Riders Can Now Order A Waymo RobotaxiClean Tech News & Views: EVs, Solar Energy, Batteries
Read more »

1st Autonomous, Electric Aircraft In World To Get Approval For Commercial FlightsClean Tech News & Views: EVs, Solar Energy, Batteries
Read more »