EVs are suddenly becoming affordable

General
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Prices are falling because of:

  1. Increased competition

  2. Lower raw-material costs, elimination of rare minerals from electric motors or replacing copper wiring with aluminum

  3. More efficient manufacturing

  4. Technology is improving quickly: longer ranges and quicker charging times

  5. Carmakers are planning new EVs with lower price points

  6. Tax incentives (this is a US analysis): Federal tax credits of up to $7,500 for new electric cars, often augmented by thousands of dollars in state incentives, that push prices even lower. It is however estimated in the article that prices of certain EVs and ICEs will be similar by 2030, without taking any incentives into account.

  7. ICEs manufacture costs are rising because of stricter emissions regulations

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