TOKYO — In 2025, the average global price for electric vehicles (EVs) dropped below that of hybrid vehicles. This shift is attributed to the decreasing cost of batteries and the expansion of Chinese automakers, such as BYD, who leverage economies of scale to offer affordable EVs in emerging markets. The trend is accelerating EV adoption worldwide, particularly in Asia and other developing regions.

Chinese manufacturers have played a significant role in making EVs more accessible, contributing to the overall price decline and increased market penetration. This development marks a notable change in the automotive industry landscape, highlighting the growing competitiveness of electric vehicles compared to traditional hybrids.

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