European auto giant Volkswagen on Wednesday said it’s readying the 25,000 euro ($26,400) ID. 2ALL, a compact hatchback, along with nine other new electric vehicles for sale by 2026. GM, which already has the Bolt, the top-selling EV in the U.S. priced below $30,000, is adding an electric version of the Chevrolet Equinox this year, starting at $30,000. Fisker Inc., which is preparing to start delivering electric Ocean SUVs in the coming weeks, plans to add the Pear, a small crossover with a $29,900 base price, in 2024.
By comparison, the cheapest Tesla, an entry-level Model 3 sedan, costs $43,000 before taxes—even after the carmaker recently slashed thousands of dollars off the sticker price to help it qualify for a new federal tax credit. The absence of a relatively inexpensive vehicle isn’t much of a problem for Tesla, though such models are vital to expanding the overall EV market in the years ahead, says Ed Kim, president of industry researcher AutoPacific.