Elon Musk has said the only thing holding back electric vehicle (EV) sales is their price.
China's largest EV makerthis week the Seagull at the Shanghai auto show, shocking analysts and rivals with the car's specs: a battery range of more than 300 kilometers and a starting price of just over $11,000 – about a quarter of the price of most EVs now on the market in Europe.
But the Shanghai show and the Seagull highlight a related dynamic: Chinese automakers are now leading the world in making EVs that compete on price and technology for the average budget. “I think an attractive car for Chinese consumers will be an attractive car for a European consumer,” he told Reuters.
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