TOKYO — In 2025, the average global price for electric vehicles (EVs) fell below that of hybrid cars, driven by reductions in battery costs and the expansion of low-cost Chinese EVs in emerging markets. Chinese manufacturers, including BYD, have leveraged economies of scale to offer more affordable electric vehicles, accelerating adoption particularly in developing regions.

This trend marks a significant shift in the automotive market, as EVs become more accessible worldwide, challenging the previously dominant hybrid models in terms of pricing.

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