China EVs cast long shadow over Munich car show

MUNICH :Europe's carmakers have a fight on their hands to erase China's lead in developing cheaper, more consumer-friendly electric vehicles , industry analysts and executives said at Munich's IAA mobility show.

The Chinese presence is also being felt at the Munich auto show. About 41 per cent of exhibitors at this year's event are headquartered in Asia, with double the number of Chinese companies attending, including EV makers BYD and Xpeng and battery maker CATL. The average price of an EV in China was less than 32,000 euros in the first half of 2022 compared with around 56,000 euros in Europe, according to researchers at Jato Dynamics.

Competition over price will be a key theme at the conference, with Tesla showcasing its upgraded Model 3 to go on sale in Europe from October at 42,990 euros .

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