EVs Are on Their Way to 25M Sales & a $4,700 Retail Price

The world is about to pass another important milestone in electric vehicle adoption: 20 million plug-in vehicles on the road globally, come June, according to BNEF estimates. That’s remarkable growth from only 1 million EVs on roads in 2016.

Hongguang Mini sells for $4,700

Perhaps most importantly, the models available in China’s EV market show how electric mobility can be very compelling for lower-middle class consumers in emerging markets. The second best-selling EV in China in February of this year was the Hongguang Mini, which retails for just $4,700.