The US market is expected to see more affordable electric vehicles (EVs) in the coming years, driven by increasing competition and government incentives. Currently, several manufacturers are working on more affordable EV models, with some expected to be priced around $15,000. However, achieving this price point will likely require significant economies of scale, advancements in battery technology, and potentially, government subsidies or tax credits.
Key Takeaways
Increasing competition in the EV market is driving prices down
Advancements in battery technology are crucial for reducing EV costs
Government incentives and subsidies can play a significant role in making EVs more affordable
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