Electric Vehicle Price War to Heat Up as Mitsubishi Readies Sub-$18,000 Car

Caixin Global | Jun 25, 2021 at 6:44 PM
  • The global battle to offer affordable electric vehicles (EV) will soon grow more intense as automakers in Japan and Europe prepare to offer cheaper models that can compete with Chinese rivals.
  • With a range of 230 kilometers and a top speed of 125 kilometers per hour, the SUV starts at 16,990 euros ($20,300) in France, a price tag made possible by assembling it in China.
  • The expense of producing a battery, which accounts for 30% to 50% of an EV’s total cost, has dropped by 80% between 2012 and 2020, largely thanks to increased mass production in China and Europe.