China's EV Threat Sharpens As U.S. And Europe Stumble

30 Oct 2023 | Abstracted from Forbes

"China's electric vehicles (EV) are getting cheaper, while the reverse is happening in Europe and the U.S...The price gap has widened, with the average retail price of an electric car available in China now less than half the price seen in both Europe and the USA...China's EVs are not only competing on price but also in terms of quality and power.

"Western (manufacturers) must shift their focus towards the research and development of new technologies and production processes designed specifically for a fully electrified future."

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