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Electric cars are cheaper than ever and that is bad for some EV owners
Consumers have a lot to learn from Hertz’s epic depreciation problem.
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The falling cost of EVs is a boon for prospective buyers who want to get hold of an affordable ride.
PHOTO: EPA-EFE
David Fickling
Here’s some good news for electric cars: They are cheaper than ever. Here’s some bad news for electric cars: They are cheaper than ever.
If this sounds like a paradox, it should not. On Jan 12, Tesla cut prices in China for its best-selling Model 3 sedan by 5.9 per cent, lowering the starting price to 245,900 yuan (S$46,220). That pushes the cost of a new vehicle below US$35,000 (S$46,820) – a fabled level that entrepreneur Elon Musk has been promising since 2016, but (mostly) has failed to deliver.
