110
Stellantis CEO says Chinese EVs are ‘possibly the biggest risk’ facing his carmaker and Tesla
(finance.yahoo.com)
this post was submitted on 20 Feb 2024
110 points (93.7% liked)
Technology
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Because the competition is on price, EVs need to compete with cheaper ICE cars.
It's not an apple with apple comparison though. People are willing to pay a higher price for EV when factoring in reduced maintenance costs, charging and ?? environmental benefit.
Wealth inequality is growing worldwide, many of us cannot afford higher priced products when it comes to large purchases like cars and that's not going to change anytime soon.
A phone as a luxury good, yeah it's expensive but do-able. A non-cheap EV is like 10x the price of a phone however.
Eh, I wouldn't classify a phone as a luxury good. Id also say a non-cheap EV is more like 50-60 times a phone. But there's definitely a gap in society for those that can buy new cars, let alone new EVs