US carmakers are struggling to sell electric vehicles while the Chinese market powers ahead because their products are inferior, according to one of the world’s biggest battery materials manufacturers. Mathias Miedreich, chief executive of Umicore, said sales of Chinese electric cars were surging in contrast to the US due to better performance and affordability. “They are simply good cars and people buy them,” he said in an interview, referring to Chinese vehicles.
However, there are cultural factors behind the success of the Chinese market compared with America, which is considered a tougher nut to crack. This is because drivers in the US prefer larger vehicles, which motor analysts say need more expensive batteries, making them harder to sell. “It’s a lack of affordable vehicles that is holding back more profound growth in EV adoption in the US,” said Sam Adham, analyst at CRU Group.