Wednesday, April 16, 2025

The price of electric cars will plummet in three years, the director promises

Electric cars are getting cheaper. In fact, within three years they will cost the same as the popular plug-in hybrids, believes Leap Motors director Tianshu Xin.

The Chinese car brand Leapmotor has, due to an agreement with Stellantis for production in Italy, quickly taken big steps towards the European market.

But according to Leap Motor director Tianshu Xin, the price of electric cars is one of the biggest challenges.

However, he sees a release on a horizon that is not so far away. The director notes that in China there is already no price difference between electric cars and plug-in hybrids. Something he expects to see happen in Europe. And very soon.

– Personally, I think we will achieve the same price in Europe within two to three years," he said during the Paris Motor Show, according to Automobilwoche.

Leapmotor differs from other Chinese car manufacturers by its quick execution. In less than a year, they have entered into agreements with the car giant Stellantis. The agreement means that the Chinese can have their cars built in Europe and thus avoid the EU's new punitive tariffs.

READ ALSO: Shock in the car industry – well-known company close to closure

The director also highlights the company's extensive network of dealers and service workshops. Something Leapmotor claims to have had in place from the beginning.

– We are very fast and have had a large dealer and service network from day one. Speed and service, that's how we succeed, believes Tianshu Xin.

According to Leapmotor, the combination of speed and a competitive price structure is the key to winning the favor of European car buyers, where electric cars continue to fight against the perception of being too expensive to purchase.

Something that i.a. is reflected in the behavior of German drivers. A new report from an insurance company shows that more than one in three German car owners regret having bought an electric car. Read more about it here .

Read more exciting news from and about the world of cars right here!

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