The dream of a $25,000 electric vehicle for U.S. drivers is in trouble. Rivals, lest they be left behind Tesla and its now-discarded claims, have aimed for cheap EVs of their own. The cheapest car Tesla currently sells in the U.S. starts at around $43,000—or $35,500 with a federal tax credit of $7,500. Building and selling a cheap car for the U.S.—EV or not—was already difficult. And that’s before adding expensive batteries to the equation, before inflation jacked prices up for everything, and before Chinese rivals got really, really good at making really, really inexpensive EVs of their own.

Source: Wall Street Journal November 16, 2024 12:04 UTC