TOKYO — In 2025, the average global price for electric vehicles (EVs) dropped below that of hybrid cars, a shift attributed to the decreasing cost of batteries and the expansion of low-cost Chinese automakers like BYD into emerging markets. This trend has accelerated EV adoption worldwide, particularly in Asia and other developing regions where affordable options are gaining traction.

Chinese manufacturers benefit from economies of scale, enabling them to offer competitively priced EVs that challenge traditional hybrid vehicles on cost. This development marks a significant milestone in the global automotive market, signaling a growing preference for fully electric vehicles over hybrids.

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