Slowing Growth of China's Electric Vehicle Market, Hybrid Vehicles Gain Consumer Favor

Foreign Media: China's Electric Vehicle Development Slows, Rising Battery Prices Drive Consumers to Hybrid Vehicles

Due to rising battery costs and a cooling car market, the development of China's electric vehicle market will slow down, and hybrid vehicles are expected to regain market share. Rising material costs are expected to slow the momentum of pure electric vehicles (BEVs), while plug-in hybrid vehicles (PHEVs) have a more price advantage.

According to analysis, BEV prices may be 20% higher than those of similar PHEVs. A UBS report shows that the rise in lithium prices could increase production costs for mid-size BEVs by about 3800 RMB (approximately 550 USD), while PHEVs would only increase by about 2000 RMB.

Original article: toutiao.com/article/1857569943157828/

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