The development of the Israeli electric car market gives us an example of what will come in other markets

The development of the electric car market in Israel as told by one of our readers, Assaf, in Comments section for the article Upon launching the Leapmotor T03 in Israel, it provided some great reading. Here is how Assaf describes the Israeli market.

“Structurally, it is a lot like New Zealand in that it is entirely imported and relies solely on ocean shipments, except there is a higher income for the Israelis and with the authorities discouraging this, there are much less import procedures used than in New Zealand. Affordable electric vehicles are mostly a Chinese field in Israel. The first car on Earth was the GAC GE3 SUV in 2020, sold for about 130 thousand shekels ($ 38-40 thousand), and soon the MG ZS joined it and surpassed it in size. These prices are mid-range to slightly lower – cars are very expensive in Israel! “

Now here is one of the most interesting parts of his summary of the Israeli market.

“The Chinese invasion of electric vehicles has forced other importers to stop ridiculous price increases on electric vehicles they sell in Israel, so now you can get Zoe for about the same price, Koreans and The Leaf for maybe 20-40 thousand shekels more. Tesla also landed in Israel in 2021 with as much fanfare as elsewhere, but supply and prices are out of reach for the majority.”

Assaf says that the entry of Chinese electric cars into the Israeli market has led to this For other electric vehicle importers who are lowering their electric vehicle prices. This is something we will start to see very soon in more places around the world as Chinese electric car makers are finally beginning to focus on exporting their products to as many markets as possible. Chinese automakers have been working hard to meet domestic demand for electric vehicles in the world’s largest market over the past decade. They are also working hard for the continuous improvement of the range and quality of electric vehicles in the Chinese market. Many of them now have room to export several models, and it seems that they intend to do this on a large scale. People outside China are following with envy all the great affordable electric cars with an excellent selection being offered in the Chinese market, wondering when they will get one. With major players such as SAIC and BYD aggressively targeting the export market, people outside of China won’t have to wait forever.

As Assaf says, affordable electric cars in Israel mostly come from Chinese automakers. Chinese automakers for the electric car sector may do what Chinese solar panel makers have done for the solar industry. As Chinese solar panel makers ramp up production of solar panels, prices have continued to fall, making solar panels more accessible to more people around the world. Reports say 10,460 new electric vehicles have been delivered to customers in Israel so far this year (until July 2022). These registrations are 70% higher than in the same period last year. Chinese electric cars are responsible for a large portion of those sales. The report also says Geely’s Geometry C is one of the best-selling cars so far this year. a look at sales charts It reveals quite a few notable Chinese models, including models from Geely, MG, Skywell, Maxus, Hongqi, Linko, GAC, and DFSK.

The biggest takeaway from all this exciting work is the news that The Geometry C electric car was the best-selling car model in Israel in August! The electric car topped the sales charts in Israel for the first time ever. The demand for electric vehicles is also high in many parts of the world. Interest in electric cars is growing around the world Although some FUD is sold by some automakers who want to extend the life of the ICE. As more affordable electric cars start arriving around the world, we could see the same trend we’re seeing in Israel, where a wave of competitive models with a decent range will force other model providers to cut prices as well. This will drive demand and increase operational efficiencies with economies of scale as global electric car makers ramp up production, spurring adoption of more electric vehicles. In the not too distant future, electric cars will be so popular for the most part that they will simply be called cars.

 

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