Electric car: Chinese manufacturers beat the competition with production costs of 10,000 euros
Created: 01/11/2023, 09:30 am
By: Simon Mones
The production of an electric car costs Chinese manufacturers around 10,000 euros less than the competition.
In Europe, this is becoming a problem for domestic carmakers.
Compared to combustion engines, electric cars are still significantly more expensive.
At least in Europe and the USA this is the case.
Instead of being cheaper, the Stromer are becoming more and more expensive.
Volkswagen's attempt to offer a cheap electric car for less than 20,000 euros failed.
This is also due to the high production costs, a point in which the competition from China has a clear advantage.
According to the boss of the supplier Forvia, Patrick Koller, the production costs for a small electric car in China are 10,000 euros lower than in Europe.
The development and wage costs are significantly lower, and less capital has to be used for production, he told the Reuters news agency.
The Chinese manufacturers like Nio can produce their electric cars much cheaper than the competition.
© VCG/Imago
Electric car: Chinese manufacturers beat the competition with production costs of 10,000 euros
Accordingly, the average price for an electric car in China has fallen from 66,919 euros to 31,829 euros since 2015, according to data from the analysis company JATO Dynamics.
This means that the electric cars are cheaper than a comparable petrol car.
Meanwhile, the average price of a European electric car rose by 7,000 euros to 55,821 euros.
In the USA, the vehicles even increased by 10,000 euros to 63,864 euros during this period.
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In addition, the electric cars from China are now also of good quality and regularly achieve top results in crash tests.
This is becoming a problem for European manufacturers in particular, because imports cannot be stopped, emphasized Koller.
Thanks to higher tariffs, US automakers don't have to worry so much about market share.
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Electric car: Chinese manufacturers are gaining more and more market share
According to the French consulting firm Inovev, the market share of Chinese manufacturers in Europe is now around 5.8 percent – and the trend is rising.
In Germany alone, customers can already choose from eight brands, including BYD (Build you Dream).
The brands have set themselves ambitious goals for the start.
The Chinese are long ahead of Tesla worldwide, making them the largest manufacturer of electric cars.
