Automotive
In China, Over 60% of EVs are already cheaper than conventional equivalents
![In China, Over 60% of EVs are already cheaper than conventional equivalents](/_next/image?url=https%3A%2F%2Fcdn.voronoiapp.com%2Fpublic%2Fimages%2Fvoronoi-In-China-Over-60-of-EVs-are-already-cheaper-than-conventional-equivalents--20240519112435.webp&w=3840&q=75)
The pace of the transition to EVs will hinge on their cost. In China, more than 60% of electric cars sold in 2023 were already cheaper than conventional equivalents. Competition and innovation are expected to bring down prices in other major markets as well.
Dataset
2018 | 2023 | |
---|---|---|
Electric cars cheaper than conventional alternatives | 10% | 65% |
Electric cars more expensive than conventional alternatives | 90% | 35% |
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