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The good news is that more full battery electric cars are now coming in at price parity with comparable ICE cars. In some cases, they are now priced lower than comparable ICE cars. Let’s take a look at the world’s largest auto market, focusing on one of the traditional leaders in the sedan market, the Toyota Corolla, and compare it with a similar BEV sedan, the BYD Qin Plus EV.
Both the 8.32 kWh and 18.32 kWh Qin Plus DM-i models are now cheaper than equivalent Toyota Corolla plugless hybrids in China, as seen in the following table. The 8.32 kWh Qin DM-i with about 55 km NEDC range is also $6,400 cheaper than a 2023 2.0L petrol Toyota Corolla SE sedan. Remember that a 40 kWh Nissan Leaf with a 110 kW motor starts from around £28,995 in the UK and around 196,500 yuan in China. So that means the 48 kWh Qin Plus EV sedan that starts from $18,750 is a whopping $9,949 cheaper than the Leaf! The original 24 kWh Nissan Leaf was one of the leaders of the EV revolution when it was released over a decade ago.
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