The dream of a $25,000 electric vehicle for U.S. drivers is in trouble.
Elon Musk has abandoned it. President-elect Donald Trump is unlikely to help. And the current economics of the U.S. auto industry don’t support it.
The key problem: America doesn’t really sell cheap new cars anymore.
Why would any automaker offer an EV—with all of that costly technology—at a price point that’s half of what the average new vehicle goes for these days?
“I think having a regular $25,000 model is pointless,” Musk said a few weeks ago. “It would be silly.”
