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Juan Diego Celemín Mojica just explained this well himself, but it was perhaps hidden a little bit under a headline about Colombia and various other details. This point is one that I’ve been waiting for, and we’ve seen the market building toward this with the expansion of BYD into more and more countries, and several other Chinese EV companies expanding in a similar way. The key is that electric cars are getting to the point where their combo of great value and competitive cost is going to make them the default choice in a lot of “less developed” markets sooner than most people probably think.
Here are a few highlights from Juan’s article:
“A notable mention goes out to the 55kWh GAC Aion ES, a Model 3 sized sedan arriving at a mere $21,800! This is what we’re talking about when we ask for affordability! No fossil-fueled sedan of a similar size can be purchased in this country for such a low cost: the age of EVs being cheaper than ICEVs has begun.”
“We’re amidst Bogota’s Hall of the Automobile, and, frankly, I’m a bit overwhelmed by the number of arrivals. For years, I’ve known and followed every single BEV arriving in this country, but the last couple of weeks I’m feeling that may no longer be achievable. Arrivals start from $10,300 — the 13.5 kWh ultra-cute ‘Pony’ FAW Bestune Xiaoma — and include the Zeekr X and 001, the Deepal S05 and S07, the Chery EQ7, the Kia EV3 and EV4, the BYD Sea Lion, the BMW iX M60, the Audi Q6, the Blazer EV, the Porsche Macan EV, the ORA 04, and the GAC Aion ES and Aion Y. I may be missing some, and this is only BEVs (I no longer hope to keep up with PHEVs).”
As a result, EVs are likely to reach 10% of the Colombian auto market by the end of this year.
While there’s been a lot of enthusiasm about the Chinese auto market rapidly transitioning to EVs, the lingering question has been how much that can translate abroad. Could these automakers sell their EVs cheaply in other countries? What we’re now starting to see is that the answer is yes.
It will take time for customers to become aware of these great deals, and the many benefits of electric driving, but it won’t take too long.
Colombia is not exactly the biggest car market in the world. If all of these automakers feel compelled to bring these great offers to Colombia, they will bring them to more and more markets soon as they expand production volume and grow demand.
BYD is leading the way, but the mixture of models that are coming along with it will keep competition up and will provide more choices for people who like one design or brand over another. “BEV + PV are a no-brainer here in Brazil. As the ‘local’ car factories are just now releasing absolutely lame MHEVs, I am zipping around for free (fuel) in my BYD Dolphin Mini (Seagull),” one of our readers noted earlier today.
Where does the “leapfrog” metaphor come in? I think a bunch of these smaller auto markets in South America, in Africa, and in Asia are going to leapfrog several much larger auto markets as this wave of cheap, competitive EVs comes through. Auto companies are less culturally, economically, and politically entrenched in these markets. Buyers are more focused on value for money and operational costs than new car buyers in richer countries where many of the buyers have far too much money than they know what to do with. Also, governments realize they are being robbed daily by oil companies, and more will follow Ethiopia’s lead and speed up the EV revolution. Also, I’m quite sure the benefits of EVs shine more in the cheaper car classes. Expensive gas cars include all kinds of remedies and add-ons to limit the problems of combustion engines and get the most out of them. Cheaper cars don’t benefit from those, but you don’t need them with EVs!
Of course, in the higher premium-class categories, which still exist in all markets, EVs have mostly become cost-competitive and better, and are often even the halo cars now. This is where EVs have been having the most success. That will be the case in these smaller markets as well, as indicated by the coming arrival of the Porsche Macan EV, BMW iX M60, and Zeekr vehicles.
The EV wave is coming to may markets that have been neglected for a long time — not just when it comes to EV options, but also when it comes to automobile options generally. These new EVs should sweep the competition off the map.
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