First of all, that statement is entirely untrue. These cars aren‘t 10k in most (all?) of the EU for example. As far as I know, these 10k cars are really only a thing in china and some SEA markets (I am not sure if these cars are really that cheap adjusted to purchasing power in these markets).
Beyond that, the chinese EV brands are in market capture mode right now. The competition is cut throat and the margins are extremely thin.
It‘s a market skimming strategy that will presumably be a last man standing scenario. If the winner(s) are decided, prices will definitely not remain as low as they are right now in some places.
Beyond that, the chinese EV brands are in market capture mode right now. The competition is cut throat and the margins are extremely thin.
It‘s a market skimming strategy that will presumably be a last man standing scenario. If the winner(s) are decided, prices will definitely not remain as low as they are right now in some places.