Think the GOUSA will catch up to China’s EV production?

Just introduced by Toyota

Segment leaders such as Tesla, Nio and Xpeng may have made their mark on the Chinese consumer, but low-priced EVs are enjoying the mass appeal in the East Asian country.

EVs, such as a $10,000 crossover vehicle made by Hozon Auto, are attracting customers due to lower maintenance costs and a smaller price tag…“These ultracheap EVs are reaching a new customer in China, as they likely will in other markets as prices come down,” said Siyi Mi, a BloombergNEF analyst.

Availability of a wider range has the Chinese consumer spoilt for choice. There is the Hozon Auto Neta N01. Also available is the e1 minicar from Berkshire Hathaway CEO Warren Buffett-backed BYD Company Ltd priced at $8,950 and the Hong Guang Mini, a two-door vehicle available for just $4,230. The Hong Guang Mini, built by Wuling — a joint venture between General Motors Company and the state-owned SAIC Motor — reported sales in excess of those by Tesla’s Model 3 by two-to-one late last month.

“Taking into account people’s access to transportation, it’s very important to see a greater diversity of models like EVs being offered on the lower end of the price range,” said Selika Talbott, a professorial lecturer and a founding partner of an automotive consultant company, Bloomberg reported. Priced at just under $30,000, the cheapest EV available in the U.S. after subsidies from a major vehicle maker is General Motors Company’s Mini Cooper SE.

This is where recent history has brought the EV market in both the US and China. The latter has a head start and – more important in my mind – the opportunity to sell a broader range of vehicles.

2 thoughts on “Think the GOUSA will catch up to China’s EV production?

  1. List of X says:

    I don’t think the US is doing the EV rollout all wrong – it’s just the market in the US is probably a lot more responsive to a Tesla/iPhone approach to creating and expanding a new product: first make it sleek, expensive, and exclusive, and thus make it cool and desirable yet unaffordable to most, and then eventually leverage that desirability into cheaper, more accessible, and a lot more common models.

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