Automakers in China are able to make an EV for 10,000 fewer euros, or $10,618, which is below what their competitors in Europe can charge. The difference is due to their low R&D and capital expenditure costs, as well as low labor costs when compared to their European rivals. According to Patrick Koller, CEO of Forvia, a supplier of vehicles, this denotes massive cost savings, which will pressurize the European car makers in their local markets.
Speaking las week at the CES convention in Las Vegas, Koller acknowledged that the cars made in China were good and that it was…
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