Why EV So Cheap in China

It’s basically a supply and demand. As the trend of EV in China increasing since 2017, more and more brands came up from the surface to make their own EV. Demands were increasing. Many factory are built to accommodate the demands.

As Covid hits, and since the world economy and political situation worsen, people are holding their money to buy that expensive thing and prefer to save for an uncertain situation. Demand declines. Many newcomer brands went bankrupt. The EVs that aren’t bought went to the EV graveyard. Competition is getting tighter. Brands lowered the EV price to get their cars selling. That’s why EV is getting cheaper.