The U.S. EV market is bleak. Sales are down, the federal tax incentive has gone away, and major automakers have either canceled electric models (like Ford’s F-150 Lightning) or scaled back production (including Nissan and Volkswagen). For now, the future of electrified cars in America revolves around hybrids.
It’s tempting to write off EVs in the country as a result, but that’s short-sighted. The evidence suggests a recovery is very likely given emerging battery technologies, more affordable cars, and a changing economic landscape. Here’s why the next car you buy might well be an EV, even if you’re shopping within the next few years.
Cheaper EVs are coming
Switching will be that much easier
For many, the largest barrier to EV adoption is simply the upfront price. Outside of compact models like the Chevy Bolt and Nissan Leaf, you’re likely to pay significantly over $30,000 for a new electric car. That’s a tough sell when the gas engine equivalents tend to be less expensive, even if fuel prices sometimes make electrification cheaper in the long run.
Thankfully, the industry is shifting toward cheaper EVs. Ford has already teased a midsize electric pickup truck that will start around $30,000 when it launches sometime in 2027. The Jeff Bezos-backed startup Slate Auto and its no-frills electric pickup will begin under $25,000 when deliveries start in late 2026. Even Tesla is reportedly reviving plans for an affordable EV (possibly the Model 2) after putting them on hold for years.
There’s no mystery behind the strategy. The most recent wave of EVs has been dominated by entry-luxury cars loaded with cutting-edge technology. Now, companies are using lower-cost components (such as lithium iron phosphate batteries) and simpler manufacturing to reach those customers that don’t need long range or creature comforts. That greatly expands the audience—who needs a government incentive when the car is already within your budget?
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New battery technology will make EVs more practical
Say goodbye to range anxiety
Front 3/4 shot of Mercedes-Benz’s Solid-State EQS Test CarCredit: Mercedes-Benz
It’s increasingly easy to find EVs with long range, but they’re not always affordable. And charging times remain slow compared to refueling gas cars—you’re realistically looking at a half-hour lunch break to recoup most of your battery life. There’s a good reason why navigation apps factor in charging stops, as you might have to plan road trips around them.
Those might not be issues in the next few years. While capacities and charging times are already improving, solid-state batteries (where the electrolyte is solid instead of liquid) promise leaps forward in range and charging speeds, not to mention longevity and safety. You might need only a few minutes to top up, and manufacturers are already claiming ranges beyond 500 miles.
There are technical and cost hurdles to overcome, as the first solid-state battery cars (due in 2027 and 2028 from brands like Nissan and Toyota) will likely be expensive to make. Companies expect mainstream adoption by the 2030s, though, so it’s just a matter of time before the tech changes EVs—you may soon have a zero-emissions ride that can easily handle a cross-country journey.
The long-term market for EVs is friendly
Companies know a recovery is coming
Credit: Rivian
Brands might be dialing back their EV ambitions in the near term, but they remain committed for a simple reason: they know the long-term market will be healthy, and in some cases they won’t even have much choice.
The European Union, U.K., and other governments are planning to ban most or all combustion engine car sales by 2035. If U.S. companies want to reach these markets, they’ll need more EVs and will likely sell some of those at home. Companies in those regions, meanwhile, might not have many gas cars to sell stateside by that time.
That’s not even including pressure from China, where cutting-edge EVs are popular with an increasingly global audience. If American companies don’t react, they risk being left behind. It’s notable that Tesla rushed to sell its Shanghai-made Model 3 in Canada to get ahead of incoming Chinese brands like BYD.
There’s also common business wisdom at work: the industry is always changing, and you have to plan for that reality. Fuel prices that are low one month can spike the next, while regulations come and go. Hyundai, for instance, reaped the rewards of largely sticking to its electrification strategy this May, when its EV and hybrid sales spiked in the U.S. as customers raced to reduce their dependence on gas.
When the comeback happens, not if
As such, it’s more a question of when the U.S. EV market will stage its comeback, not if one is coming at all. I’m not expecting an imminent recovery as the prices, technologies, and societal conditions will take years to fall into place. However, it’s safe to say that we’re only experiencing a lull, not a permanent state of affairs.