TOKYO — In 2025, the average global price for electric vehicles (EVs) dropped below that of hybrid vehicles, a shift driven by declining battery costs and the expansion of affordable Chinese EVs in emerging markets. Chinese manufacturers, including BYD, have leveraged economies of scale to offer competitively priced electric cars, accelerating adoption in regions where cost sensitivity is high.

This trend marks a significant milestone in the global automotive market, indicating increased accessibility of EV technology worldwide. The price advantage over hybrids could further boost EV uptake, particularly in Asia and other emerging economies.

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