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Tuesday, February 7, 2023

Developing nations aren’t ready for EVs—unless they are made in China

She was surprised to find several electric vehicles from Chinese manufacturers that cost less than gas-powered cars of a similar size.

“I had an image of an EV being very fancy,” she said.

For now, the Thai EV market is just a rounding error in the global car industry. But it points to some trends that analysts say are worrisome for global auto makers.

With government subsidies, Chinese EVs are emerging as price leaders in Southeast Asian nationswhere Japanese companies like Toyota Motor Corp. and Isuzu Motors Ltd. have long controlled most of the automotive market. That is a contrast with developed nations like the U.S., where EVs are generally sold to those who can afford to pay extra for the environmental halo.

Chinese EV makers are bringing to the…

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