"While the rest of the world is still pushing forward with electric vehicles, the U.S. governemnt has done away with one of the biggest driving forces here: the EV tax credit. That means that the tech will soon need to thrive on its own meritthe biggest barrier, of course, being cost. Car companies are working on this, though. They know that EVs need to be cheaper, especially now that Uncle Sam's wallet is officially closed."
"We just launched the universal electric vehicle platform in Louisville. We think it's the same cost as a BYD made in Mexico. We're trying to out-innovate our competitors like BYD. I don't think we can stand still. We can't rely on a North America or US-only market. Companies like Ford have to out-innovate our Chinese competitors. We're already facing them in in Australia, New Zealand"
Federal removal of the EV tax credit forces electric vehicles to compete on price without subsidies, making cost the primary barrier to adoption. U.S. automakers are accelerating cost-reduction efforts and new platforms to match lower production costs achieved by Chinese manufacturers building in North America. Ford claims its Universal EV Platform can reach BYD-like costs and plans a $30,000 electric pickup for 2027. Battery-cost innovations, including startups reducing LFP battery expenses, and strong quarterly performance from major EV firms could determine competitiveness and survive the transition to subsidy-free markets.
Read at insideevs.com
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