HOW ARE CHINESE EVs SO FREAKING CHEAP?
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- Опубліковано 25 лют 2024
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15:35 There's also been a raging price war in china between the EV makers driving down sale prices that hasn't hit EU/NA quite as hard.
Competition is beneficial to all consumers.
yeah, this is also true! Thanks for the input!
Mentioning ID.7 is good point. I was testing their infotainment and it seems to be really well thought, easier to use while driving, fast, and customizable enough.
Very accurate info, thanks Kris
Thanks for watching and commenting mate :)
Yes, it would be super interesting if you could make a whole video on why electric car prices are so low in China. You mentioned price subsidies and tax breaks.
It would also be interesting to hear what happens to the price when the same car is imported to Europe. Do we have taxes and fees applied? I can guess that European guarantees cost extra.
There is a lot of work that falls on you, but is there perhaps an interested researcher who could help?
Industry is ahead, not products, not at all. But industrial process is far more important now, even with not so good cars for now. Something like the rise of japanese cars, but really faster.
Well... Don't forget that other European cars are way cheaper in China .And quick about the Zeekr 001 for example, in what way isn't this car amazing for the price compared to other models in Europe? Okay, the software isn't there yet.
What about importation taxes as a cause for higher prices in Europe?
What? Did you watch the video?
It is just 10 % for all cars?
@@abraxastulammo9940 As I said in the video. VAT is around 20-25% depending on the European country.
@@KrisRifa I think the tariff is on top.
The main question is if the Chinese can sell cheaper by building factories in Europe? There was a fear in the US that BYD would set up a factory in Mexico with lower labor costs and would bypass US tariffs on Chinese cars. But the BYD North American CEO today said that BYD is not interested in selling light cars in the US. (They sell electric buses in the US now). Besides, Tesla's driving down prices in the US for EVs anyway, and giving legacy auto more competition than they can handle anyway.
To build cheaper cars in EU they need to hire people with Chinese wages, and that’s not gonna happen.
European plants is all about dealing with future EU embargo, customs and taxes.
@@The_Observer72 Hungary has basically the lowest fees in Europe. Also, parts are built in China - it is just the final assembly in Hungary.
@@deserialized But still, way more expensive than assembly in China.
Never forget that Chinese can make cars nicer inside for a way lower price because of labour and material costs across the whole supply chain, from mining to assembly. It is simply a fact that BMW making a car in Bavaria will cost at least double or triple the amount to Xpeng in some factory somewhere in China. This is just a fact. But i feel that we should support European industry where we can. The conditions for workers in China are not the best, they earn very little money, have very few off-days, if at all.
I think applauding the Chinese for just being cheap is not really a thing we should be supporting, given the story behind each cheaply made Chinese car.
The cars aren't cheaply made. The materials and wages for workers cost less and/or are subsidized by the Chinese gov't. And it's not necessarily accurate that conditions for Chinese workers aren't the best across the board. They drive themselves to work insane hours but that's true of other parts of Asia as well. Some of the factories are state of the art and up to high standards.
Excellent video, Kris, and needed. I just want to point out that some Western cars are being called Chinese by a lot of social media commenters and some media channels. To me, a Chinese car is by a company mostly home-grown in China and spec-d and directed by teams of people in China. A car that is manufactured in China but from a Western company, IMO, is not a Chinese car. So I don't think Lotus, Polestar or Volvo are Chinese. Teslas made in China are still American cars. MGs are now Chinese because they're spec'd there. Most companies are international due to joint ventures and platform sharing plus global sourcing of materials and plants all over the world. Smart is part Chinese, part German. Zeekr is part Swedish, part Chinese.
I think if Chinese cars were to be allowed in the USA that most people wouldn't buy the "cheap" ones and would buy the Seal and a lot of mid-sized SUVs. And they would be not much less expensive than what Hyundai and Kia are selling their cars for. But in a way I'd welcome the competition because the interior quality of cars would rise.
So Volvo isn’t good enough?
what the heck are you talking about?
@@KrisRifa Just curious, do you categorize Volvo as western or Chinese in your comparisons?
@@The_Observer72Excellent point. Is Volvo a western car company any longer or a sub division of Geely? When I have my Volvo serviced at local dealership in the USA a large (if not major) portion of models on display are manufactured in China.
@@The_Observer72 I never said Chinese cars aren't "good enough", so not sure why you would ask that? Furthermore, Volvo is a Swedish car company with their HQ and most of their production in Europe and the US. Sure the majority of their ownership is with Geely, and they share R&D and parts with other Geely products, but hat doesn't make them Chinese. They are Swedish.
@@KrisRifa I thought EX30 was built on Geely SEA platform in Zhanjiakou, China?
Volvo fired 1300 Swedish employees in 2023. Suppliers to the plant are chosen “China for China”.
I’m not so sure anymore about Volvo being Swedish 🤷♂️
All the topic about China cars is only because it sounds dramatic, and it's easier to get clicks.
Teslas and iPhones are a lot chinese, isn't it?
Some good thoughts there, Kris! I think there's another aspect - if they bring them in too cheaply, they will end up getting import duties put on them by European governments (this has already been threatened), so they pitch their prices to be competitive and not attract too much attention. However with the Renault 5 going on sale today at 25k Euros, and the Volvo EX30 at about 35k Euros, this excuse goes out of the window. This year is going to be the year that we see serious price cuts on EVs everywhere and the Chinese will keep slightly undercutting traditional manufacturers, while being just high enough prices to prevent import tariffs...
Import duties have been threatened if they choose to sell EVs to cheaply. I think this comes from the artificial low prices we see in China, that the EU won't allow. This is good thing to protect European industry. Some regulations are good imo.
BYD just started to bild their first European car factory in Hungary. It will make BYD cars even cheaper within 2 years..
They are made in the same way, Not 48v, Not Gigacastings. They are pieces of metal welded together. They have cheaper costs and are making an effort to finish them is a respectable way. That is it.
what are you talking about?
@KrisRifa Manufacturing techniques that allows for increased production. As for technology none of the cars have a 48v architecture. Which is a technology game changer. Tesla are the first through the 48v gate.
In 5 or 10 years all 12v cars will be yesterday's news.
Until China's Manufacturers get above Tesla then they are no better than normal Legacy Auto
@@mikadavies660 are you talking about 48v electrical system apposed to 12v? If so, this has been in production since 2018 in many legacy automakers. Tesla are far from the only ones using a 48v eletrical system. A whole bunch of automakers seem to be adopting Gigacastings, Geely is one of them.
@mikadavies660 Don't the Hybrid systems have 48V?
I think it is totally irrelevant and you only push it because it is Tesla latest sh* like the disappointing 4680 cells. 😅
@@KrisRifa 48v as a complete system has not been around since 2018... As they are not using ALL 48v components. They have used it for power steering and suspension parts.
- Grins in Korean - : I love my EV6. 800 volt, flat charging curve. Great battery, Good quality, and a good price.. and not Chinese. :). But .. not my fight :) . Until the VW dealers here stop being such dicks to their customers (as they mostly sell to governments and don't care about individual customers). The ID range is out of the question anyway.