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,
Prospective EV buyer Jenny Seiber (@jennylseiber) turned to the digital masses for advice after her family's Toyota Prius hybrid finally called it quits after years. "We really don't know a whole lot about them, and we don't know a whole lot of people with them," she explains before asking for input. The one condition is that whatever car they choose must be affordable for a young couple.
China has now crossed a massive benchmark in the electric-car race: battery-powered vehicles are now cheaper than their gas counterparts. In the U.S., by contrast, EVs still face a steep premium; roughly $14,000 on average, according to new data from JATO dynamics, an automotive data analytics firm. Dan Sperling, founding director of the UC Davis Institute of Transportation Studies, told Fortune he thought the $14,000 figure was overestimated - but conceded that there was a strong, real gap.
