When Will the US Finally Get $15K EVs?

"You've seen it on social media: "This $15,000 Chinese EV will DESTROY the auto industry!!" In fact, 2025 was to be the year when electric vehicles reached global price parity with gasoline cars in their segments: They'd cost the same, regardless of whether they had an engine or a battery with electric motors. In North America, that didn't happen. As US vehicle prices continue to soar, it begs the question: When will the US get EVs that are more affordable, as cheap as gas cars,"

"Let's define "affordable" as around $30,000. The average new vehicle in the US now sells for an eye-watering $50,080, and that number will likely rise. Cheaper EVs are coming, though not as fast as they have in Europe and China. WIRED spoke to industry analysts as well as executives at Ford, General Motors, Kia, and others about how they see the market, and, crucially, when we'll have affordable EVs in volume."

Super-cheap electric vehicles already exist in parts of the world due to battery and manufacturing advancements that lower new-car costs. Global price parity between EVs and gasoline cars was expected in 2025, but North America missed that milestone as US vehicle prices rose. The US average new-vehicle price is about $50,080 while 'affordable' is defined as roughly $30,000. The national $7,500 EV purchase incentive ended September 30, creating headwinds. Automakers can lower EV prices by simplifying designs and production, using cheaper batteries, and building smaller cars. Non-Chinese makers face pressure from low-cost Chinese competitors such as BYD.

Read at WIRED