The $25,000 electric vehicle is coming, with big implications for the auto market and car buyers

Look closer, and the work auto companies are doing themselves to refine EV technology — and, crucially, new manufacturing processes — loom as an even bigger deal. And that’s resulting in a series of newly-announced and coming-soon models that will make EVs much cheaper, and more mainstream, highlighted by Tesla’s first detailed public explanation of how its next-generation car due next year will come at a lower price tag, expected to start between $25,000 and $30,000.

The rise of the mass-market EV will be a milestone — environmentally, economically, financially and even politically. And as the Biden administration pushes changes that seek to aggressively remake the car market in favor of EVs more quickly than previously anticipated.

Hitting price points well below the $48,763 U.S. average new-vehicle price, which Kelley Blue Book says has risen 30% in the last three years, will make obsolete the shibboleth that EVs are an elite affectation of rich people.