Electric Autos Need to Lower Costs

According to the news from Tianjin-Qingyuan Electric Vehicle Company reports that it will begin offering its all-electric Saibao midsize auto in this fall—using a car body from a gas-powered auto that normally sells for $14,600. But the battery pack and electric motor for the vehicle is expected to cost $14,000, according to Wu Zhixin, the company’s general manager.

At nearly $30,000, the price of Saibao EV will be out of range for Chinese consumers, even with a government subsidy of $8,800. The cost will sharply play down the competitiveness of Chinese electric auto to occupy the market.

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