2024 Purchasing an Electric Car in China: Comparatively Easier Than in Europe

 There is a slight difference in the most popular segment - electric SUVs, where the average price of an electric SUV has dropped sharply compared to the US and Europe. Over a six-year period, prices have nearly halved, from 109,506 euros to 57,461 euros in Europe, and from 99,874 euros to 54,026 euros in the US.

However, the price of electric SUVs is still higher than gasoline cars - 44,373 euros in Europe and 43,514 euros in the US. In China, the average price has dropped to 35,512, 5% younger than gasoline SUVs.

Subsidy policy makes a difference

China is ahead in the issue of electric vehicle prices thanks to the state's stimulus program and that is also the reason the country has become the largest electric vehicle market in the world. Although the Chinese government plans to tighten this policy to reduce dependence on incentives.

The situation in the US is not like that, now only 21 out of 72 cars qualify for subsidies. Specifically, to receive a subsidy of up to 7,500 USD, the vehicle must be assembled in North America. The support policy currently only applies to electric sedans priced up to 55,000 USD and to pickup trucks/SUVs priced at a maximum of 80,000 USD.

In Europe, each member country has its own support policy, but they all aim to promote electric vehicle sales to achieve the ambitious goal of selling only new vehicles with zero emissions by 2035.

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