Electric-vehicle prices are falling fast in the U.S., but the cheapest models remain far more costly than what other countries have on offer.
The BYD Seagull sells for about $10,000 in China, the Dacia Spring starts at $20,000 in Europe, the Renault Kwid e-Tech costs $19,000 in Brazil, and the Kia Ray goes for $22,000 in South Korea.
So where is America’s $25,000 EV?
In short, it’s coming soon. It may not seem that way at first glance: U.S. vehicle prices in general have soared to around $47,000, on average, and prices for electric models are higher still. Even after price cuts, the country’s best-selling electric sedan, Tesla’s Model 3, starts at around $40,000.
But with signs of slowing growth in the premium EV market, manufacturers have been working on a substantial pivot from luxury to practicality. The $25,000 economy electric car is the industry’s new target, and a number of models are set to hit the road within a year. Whether they can win over the next wave of American EV owners — and fend off Chinese imports currently held at bay by soon-to-be-102.5% tariffs — depends on how much range and how many features can be squeezed in.