EVs, while often talked about, are a very small percentage of the market so they have nowhere near the economies of scale of IC engine cars. With a smaller market, they need to spread R&D costs across fewer vehicles.

A lot of companies are also adopting the Tesla model of starting at the high end and working down. It's a lot easier to build in margin on higher end products. If companies start at the low end with a cheap EV, they may not be able to meet demand. The start ups also don't have the manufacturing chops of the older car makers, which is why you see them making really expensive cars... they know they can't scale yet. Ford on the other hand has priced the Mustang EV and Lighting pretty reasonably. I see the Mach-E all over the place and I'm sure I'll see the Lightning everywhere soon.