WEMO24-Compiled Report-Interactive compressed (002) 4154-7882-8116 v.1 - Flipbook - Page 283
Market Data
Customers
ENERGY IN
THE REGIONS
HOME
Solar panel cost, average EV cost, average cost of electricity
Average price of EV in APAC is between $16-65 Thousands in 2023
• Cheap Chinese EVs starting at $40,000 have
lowered the average price, though most range
from $60,000 to $90,000
FIGURE 8
Average Price of EV in APAC, 2023
• In China, automakers have made rapid progress,
o昀昀ering a昀昀ordable electric vehicles at scale. The
price gap has widened, with the average retail
price of an electric car available in China now less
than half the price seen in both Europe and the
USA
All Figures in Thousands $
Australia
65.2
China
15.9
Source: Synergy.net, Forbes, and Motoroctane
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India
• India aims for 30% electric vehicles (EVs) by
2030 to cut its carbon footprint and reduce oil
imports. To support this goal, the government
has introduced incentives such as GST reductions
on EVs, income tax exemptions on EV loans, and
the establishment of charging infrastructure
nationwide
