Part 4/10:
Such price dynamics have resulted in a noticeable shift in consumer preferences, with cities like Shenzhen leading the way. Transitioning to a 100% electric fleet for taxis and buses, this city serves as a reference point for a broader trend. The market transformation in Shenzhen is evident, with reduced engine noise and increased adoption of EVs as prevailing public transportation options.
Now, even established automakers in Western markets like Volkswagen are adjusting to this new reality, with strategies such as leasing the electric ID3 for €249 a month, drastically undercutting traditional combustion engine counterparts. This competitive advantage is crucial, as Chinese manufacturers prepare to penetrate Western markets with compelling pricing compared to traditional vehicles.