For years, people have complained that electric vehicles are too expensive to be true alternatives to combustion cars. However, the car market is set for a revolution as more carmakers announced plans to build affordable, cheap-as-chips electric vehicles in the next couple of years.
This was almost inconceivable a couple of years ago, when people would've paid anything to buy any car they could find, gas or electric. However, the market has cooled significantly, and the economic conditions have worsened, so people are now turning their backs on anything above $50,000.
Any carmaker that plans an $80K electric vehicle for the coming years will find itself in a tight corner. Lucid Motors and Rivian might be especially at risk, although both intend to bring more affordable models into the market. However, by the time a $50K Rivian R2 is available, others might already have $30K EVs in production. It will be a tough battle for survival, and not everyone will make it.
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