News
EV prices drop as inventory soars, batteries improve
Electric vehicles are getting cheaper as inventory rises and battery costs fall — a trend that experts say bodes well for the Biden administration’s goals to cut car pollution.
The average price of an EV is now about $53,000, nearly 20 percent cheaper than a year ago. Gasoline-fueled vehicles, meanwhile, have slightly increased in cost, averaging $48,000.
Related Knowledge Center: Electric vehicles
State of Play
As electric vehicles — critical in the effort to reduce emissions in transportation — become more economical, the federal government and some states are addressing the need for supporting infrastructure, such as charging stations.