China Is Winning The Race for Affordable EVs

While U.S. and European automakers struggle with weaker demand for electric vehicles, China is churning out a growing number of small and cheap EVs that are taking over the domestic car market and other markets in Asia. Affordability has been a key driver of consumer choices when buying a car. The average consumer in the U.S. and Europe has yet to afford an EV manufactured by a Western carmaker. That's not the case in China, where generous government subsidies have helped EV manufacturers make many models priced on par or even lower than gasoline…