For the first time, long-range EVs are available for less than the average cost of a new vehicle in the US. “Darwinian” competition and a slew of new models helped electric cars with 300+ miles of range reach another milestone in price parity 🧵

@FuturamaKing There are two lines on this chart. The half-empty part is that Tesla's sales are flat (at best), and there's no visibility into its new-product pipeline. The half-full part is that competition is really picking up, which is good for electrification generally. I'm an EV optimist.

@FuturamaKing Yeah, that chart shows Tesla's total-vehicle market share falling in every region — also not great.

4/ Tesla’s ambitions now go well beyond cars: Musk says EVs will be dwarfed by clean energy, robotaxis, humanoid robots—much like Nvidia moved past gaming chips and Amazon books. But worth noting: Those companies maintained their core market majorities 4/

America is finally going to get its $25,000 electric car. Here's everything we know about efforts underway at four top manufacturers, with sales starting within a year: (🎁 link)

Also the only time I've ever had a water-color portrait for a story illustration

@johnrhanger @RogerCoppock Correct!

@OracleofMusk You're wrong on at least 4 counts /. The base Model 3 wasn't cheaper than the average car until 2023. Even then, it wasn't a 300-mile version. The rise of the green line was from Tesla briefly raising prices or temporarily removing LR RWD models. The 2024 drop is due to Hyundai.

@JoeHeinzmann @EdHerdman Cheapest long range (300+) right now is Hyundai Ioniq 6 and soon the Chevy Equinox base model, both at $35k. Federal credit will bring Equinox down to $27500. There will be an upcoming Jeep at $25k (range unclear) and the new Bolt next year presumably similar.

@ElephantLvr Yes, that's a key issue & addressed in the story. But no need to exaggerate it: the Hyundai Ioniq 6, for example, can add 250 miles of driving in 15 minutes. Many people charge at work, while grocery shopping, etc. It's still too inconvenient for many but is improving rapidly.

@skorusARK when grid-fin coffee tables?

@heyshalin It will definitely continue to fall, which also makes buying a bit scary in terms of resale values (for both EV and ICE). Another reason many are choosing to lease.

@A_Siegel Yes! Not to mention government incentives, which aren't included in that chart. I spell out the differences between total cost of ownership (already achieved) and purchase price parity (by 2030) in the story. Gift link:

“Affordability is the key success factor right now. If you want the scale to materialize, you need to be selling BEVs to the middle classes.” Gift link to the full story: