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How to Win the War Against Saudi Oil? The $5,000 EV! – GV Wire

How to Win the War Against Saudi Oil? The $5,000 EV! – GV Wire

As China’s electric vehicle (EV) market continues to boom, the nation is posing an existential threat to Saudi Arabia and OPEC.Sales of plug-in electric vehicles reached 32% of the Chinese market for standard passenger cars in February, while diesel and petrol car sales dropped 20% YoY.The nation’s best-selling EV, the BYD Song Plus, retails at around $27,000, while the Wuling Mini starts at around $5,000.Related Story: China Vows ‘Forceful’ Measures After US-Taiwan MeetingThis takes the consensus forecast for EV market… 

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