Want to save the planet but can only afford a $25,000 Electric Vehicle? Dream on.
With even the least expensive EVs sold in America being priced over $30,000 — the least expensive Tesla costs just over $40,000 — many industry experts believe that until there are EVs with sticker prices below $25,000, there will not be mass market adoption.
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Among the major US car companies, Jeep is the only one that has set a target date for a sub-$25,000 vehicle. In part this may be because its parent company, Stellantis, is having trouble selling gas-powered cars. Meanwhile, all U.S. car companies have missed most of their EV release dates and sales targets.
The Wall Street Journal recently looked at the U.S. EV landscape and concluded that, “Abandoning the idea of a $25,000 car comes as a blow to those who were betting that the electrification of the automobile was on track to happen seemingly overnight — with EVs for every pocketbook replacing the tens of millions of vehicles on the roadways.”
Why? The argument has been made repeatedly that there is no mass market for EVs in the U.S. They have a range that is too short and there are too few charging stations. In addition, they do not take a full charge in the cold and eat through tires faster than gas-powered cars.
Meanwhile, EVs that can be purchased for under $25,000 are just an ocean away in China; however, U.S. tariffs keep them out, so their presence in the market cannot serve as a price test.
All of which means it’s highly unlikely there will be $25,000 EVs in the US anytime soon.
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