The average price in the Asian country is 33,964 dollars; while in the US it is more than 53 thousand dollars.
By John Smith
In the fight to reduce the use of gasoline to protect air quality, electric cars are taking more and more participation in the mobility market, with China standing out the most in the sale and construction of a more sustainable ecosystem.
Currently, global sales of electric vehicles account for about 13 percent of all car sales and are likely to rise to 45 percent of the market by the end of 2030, according to the International Energy Agency (IEA).
Chinese car brands request to settle in the Metropolitan Zone. Industry experts indicate that the electric car market will depend on prices and the availability of charging stations, areas in which China has the advantage.
The average price of an electric vehicle in China cost around $33,964 as of mid-2023. This is eight percent less than the cost of a gasoline-powered car, according to British research company JATO Dynamics.
Much of the demand for electric cars in the Asian country is due to huge government subsidies and the easy availability of land for the production of electric vehicles.
By contrast, in the United States, the average price of an electric vehicle is more than $53,000, according to automotive research company Kelley Blue Book, about $5,000 more than that of a gasoline car.
The United States is also far behind China in the total number of public charging stations.
As many as 1.2 million charging stations for public are setup in China, about 40,000 in the Europe and 52,000 in America. These statistics were quoted by the Electrification Institute through a white paper. The industry has funded the paper.
Still, electric vehicles are expected to grow to 50 percent of new car registrations in the United States by 2030, according to the IEA, as drivers are attracted by improving technology, falling prices and the prospect of avoiding volatile prices at the gas pump.
The change on the political side could delay the transition,” said the IEA’s Petropoulos, referring to concerns among some electric vehicle makers that next year’s US elections could usher in a new set of policies. “But ultimately the transition is happening now.”
The Paris-based International Energy Agency (IEA), which brings together 29 industrialized countries, expects global oil consumption to peak at the end of this decade at 103 million barrels per day, after making periodic adjustments with compared to its 2017 forecast of a near-peak of 105 million barrels of oil in 2040.
The International Energy Agency expects electric cars to have eliminated about five million barrels per day of global oil demand by 2030.
