Chinese electric cars have an advantage in price!

China has more than 300 electric car models, while Europe and the US have 184 and 65 respectively. This allows China manufacturers to offer different Chinese electric cars model, ev brands to different consumer groups in Europe.

Chinese electric cars are very competitive in price. In Europe, the price difference between electric cars and petrol cars or plug-in hybrid cars averages 45%-50%, making electric car’s prices higher in the Euro market. This trend will continue because European manufacturers are overly focused on profits, concentrating on building and selling electric cars on high-end, high-margin and virtually exiting the low-price market, which Chinese electric vehicle manufacturers can focus on it.

Chinese EVs exported to Europe are still price competitive after adding transportation costs and import tariffs. European car manufacturers focusing on luxury vehicles instead of budget options have benefited Chinese companies.

Batteries are another major advantage for Chinese electric cars. In the electric vehicle era, having battery technology is like holding the key to intellectual property rights. Until 2030, 70% of global battery production capacity and most of the battery supply chain will remain in the hands of Chinese manufacturers.

Six of the top 10 battery manufacturers are currently Chinese companies, with the largest, Ningde Times, having a 32.6 percent global market share. The rapid growth and rise of BYD, one of China’s largest battery, motor, and electricity automakers, show us the importance of battery technology to the EV industry.

BYD was ranked outside of sixth place in 2020 and has become the third-largest electric cars OEM behind Tesla and Volkswagen in 2021. As a battery manufacturer, BYD has risen to the second position after Ningde Times in the world’s largest battery manufacturers ranking.

China is at the forefront of the push to make electric vehicles “smart”. Some of China’s largest technology and Internet companies, such as Huawei, Alibaba, and Baidu, are providing digital and big data support for Chinese electric cars. Many Chinese EV manufacturers, like great wall motors, are employing large numbers of software developers to upgrade the “intelligence” of their EVs, giving Chinese brands better-connected cars, autonomous driving capabilities, and richer base features.