Futurology

1669 readers

167 users here now

founded 1 year ago

MODERATORS

The company that owns Volvo is selling a 665 kilometers (413 miles) range EV sedan in China for less than $25,000 (insideevs.com)

submitted 8 months ago by [email protected] to c/[email protected]

15 comments fedilink hide all child comments

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 8 points 8 months ago* (last edited 8 months ago) (1 children)

The other poster didn't say anything about the exchange rate, they said Purchasing Power. According to OECD (2024), Purchasing power parities (PPP) (indicator). doi: 10.1787/1290ee5a-en (Accessed on 09 January 2024) the PPP (Purchasing Power Parity) between USD and the Yuan was 3.989 for 2022. So a 25k vehicle in the PRC is basically a 100k vehicle in the USA. You can purchase some excellent EVs in the United States for $100,000.

In fact the article is guilty of doing exactly what you're talking about! Doing a direct conversion from RMB into USD without adjusting for PPP, basically throwing out all CoL differences, is what leads to stupidity like this article.

[–] [email protected] 2 points 8 months ago

Yes, I read the article where they only provided the exchange rate.