TOKYO — In 2025, the average global price for electric vehicles (EVs) dropped below that of hybrid cars. This shift is largely attributed to the decreasing cost of batteries and the expansion of affordable Chinese EVs, such as those produced by BYD, into emerging markets. These Chinese automakers benefit from economies of scale, enabling them to offer competitively priced vehicles that accelerate EV adoption worldwide.

This trend marks a significant milestone in the automotive industry, highlighting the growing accessibility of electric vehicles compared to traditional hybrid models.

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