According to a report by “JATO,” China outsells Europe and the United States in terms of electric car sales because of the government’s pricing policies and incentives that make new energy vehicles affordable for all people, in contrast to what is happening on the old continent and in America.
The analysis found that between 2015 and 2022, the average price of an electric automobile grew from 48 thousand to 55 thousand euros in Europe and from 53 thousand to 63 thousand euros in the United States, but it significantly decreased in China, from 66 thousand to 31 thousand euros.
In addition, electric cars continue to be significantly more expensive than fuel-powered cars in the United States and Europe. In America, the price difference between the two is 43%, while it is 27% in Europe. In contrast, in China, electric cars are 33% less expensive than cars with internal combustion engines.
Thanks to kind government regulations, China also succeeded better than Europe and America in pricing electric automobiles with smaller slides.
In contrast to Europe, where the price increased by 15% and reached $28,000 while gasoline cars are only sold for $17,000, in the United States the price of the urban electric car reduced from $29,00 to only $10,000 between 2015 and 2022.
While prices for sports cars with multiple uses have decreased significantly in recent years in both Europe and the United States—in the former, from 109 thousand dollars to 57 thousand dollars, and in the latter, from 99 thousand dollars to 54 thousand dollars—they still remain higher than the average price for the same fuel category, which is only 44 thousand dollars.
A sports automobile with various uses costs only $35,000 in China, making it among the most affordable 5% of its category.
In contrast to the United States, where only 21 of the currently available 72 electric vehicles qualify for incentives, every country in Europe has its own policies for electric motor incentives, but all of them need more interventions in general, China is making significant progress in terms of being able to withstand the costs of electric cars thanks to the incentive programme that helped it become the largest electric car market in the world.
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China’s policies have given it an advantage in electric vehicle technology over America and Europe.
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