10 new EVs priced below $50,000 that launch this year

"The EV industry has some problems: tax credits were cancelled, US sales dipped, and prices are still too high for many car buyers. Automakers are readying a new slate of new EVs - including 10 with base prices below $50,000. Four out of the 10 upcoming more affordable EVs are a result of a joint venture between two Japanese behemoths. It's expected to be a difficult year for electric vehicles."

"Federal tax credits ended months ago, US sales have cooled, and automakers are shelving models that lost billions. But there's a new guard of EVs priced at less than $50,000 right around the corner that could test that prediction. Major automakers are launching or re-releasing roughly 30 EVs in the US this year, Business Insider found - and yes, there's plenty of higher-priced luxury offerings in the lineup, from a high-powered Ferrari to Jaguar's controversial new coupe."

"But 10 of those new or refreshed EVs start below $50,000 - the average price of a new vehicle in the US in December. "The price for EVs has been too high," Kevin Roberts, CarGurus' director of market intelligence, told Business Insider. "As you see more practically-priced EVs, that's where you'll see growth in demand." These more affordable vehicles will test if lower prices are enough to convince Americans to jump on the EV bandwagon, or whether the market will continue to fizzle."

Federal EV tax credits ended months ago, US EV sales have cooled, and automakers have shelved money-losing models. Major automakers are launching or re-releasing roughly 30 electric vehicles in the US this year, including many luxury offerings and performance models. Ten of the new or refreshed EVs carry base prices below $50,000, matching the average new-vehicle price and opening a more affordable segment. Four of those ten affordable EVs come from a joint venture between two large Japanese automakers. Lower-priced, practically configured EVs could attract mainstream car buyers and test whether price reductions alone will reverse recent cooling in demand.

Read at Business Insider