“The Beijing Auto Show that opened to the public this week is a showcase for how hypercompetition in China has driven new car prices in the world’s largest car market to ​a fraction of the level of the next-largest market, the U.S.

The contrast is stark.

The average new car in the ‌U.S. in March had a list price of $51,456, according to Kelley Blue Book.

In China, there are more than 200 battery-powered models, including hybrids, for sale at less than the equivalent of $25,000, according to DCar, an information and trading platform.

Reuters compiled a list of the five best-selling electric vehicles in China that start under $12,000 using ​DCar data.”

From Reuters.