Electric vehicles don't have such value to worth the money they ask so far. Maybe this is the reason...

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Would be interesting to know. It's just a topic that's mostly covered in Chinese I found so far. In 2024 48% of car sales were EVs. Competition is fierce. They have small EVs for under $ 10'000 and the infrastructure to charge is available and growing fast. It's fascinating.

https://en.m.wikipedia.org/wiki/Electric_vehicle_industry_in_China