Electric vehicles may be as affordable as gasoline cars in 2023

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Written By Jennifer Joslyn

💰 Electric vehicles may be as affordable as gasoline cars in 2023.

While the price tag on electric vehicles has often played a part in why many Americans cannot afford them, sticker prices are beginning to decline. Due to increased competition among automakers and government incentives, the prices between new electric vehicles and gasoline-powered vehicles may be comparable. Automakers Tesla, General Motors, and Ford Motor have all ramped up activity to create new factories to increase battery manufacturing. The cost of electric vehicles (EVs) has been declining steadily over the past few years, and it is expected that the price tags of EVs will become comparable to those of gasoline-powered cars within the next few years, possibly as soon as the mid-2020s.

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Jennifer Joslyn
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