TECH - Why Chinese EV Makers Are Adding Gas Engines To Their Electric Cars To Boost Sales | Benzinga
Chinese electric vehicle companies are reportedly turning more to extended-range electric vehicles (EREVs) to boost sales. These vehicles, which combine electric motors with gasoline engines, offer customers a solution to concerns about limited electric range and lack of fast-charging infrastructure.
What Happened: IM Motors, the EV unit of SAIC Motor Corp, is adding a gas engine to its fifth model, which will only have a 124-mile range on pure electric power that can potentially discourage some buyers, as per CNevpost, which cited local media outlet Cheshi.
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Why EREVs Are A Hit:
- Short Electric Range: Many Chinese EREVs have a limited electric range, potentially discouraging buyers.
- Limited Charging Infrastructure: The lack of widespread fast-charging stations can cause range anxiety for potential EV owners.
- Proven Market Demand: Li Auto Inc‘s (NASDAQ:LI) success with EREVs shows strong market acceptance for this hybrid technology in China.
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