May 27, 2023

Source: CNBC

Excerpt: 

From the headlines, car buyers might think the most important force driving down the cost of electric vehicles is the $7,500 tax credit that was expanded last summer, followed by Tesla’s recent aggressive cost-cutting to gain more market share.

Look closer, and the work auto companies are doing themselves to refine EV technology — and, crucially, new manufacturing processes — loom as an even bigger deal. And that’s resulting in a series of newly-announced and coming-soon models that will make EVs much cheaper, and more mainstream, highlighted by Tesla’s first detailed public explanation of how its next-generation car due next year will come at a lower price tag, expected to start between $25,000 and $30,000.

Read more: The $25,000 electric vehicle is coming, with big implications for the auto market and car buyers