Markets open to competition from BYD will see massive price drops.
Or governments will impose more import taxes to counter Chinese government sponsored price dumping.
Fingers crossed, we might just see more affordable EVs hitting the streets soon!
Someone will grab the low end, currently served by cheap ICE cars and the second hand market. Premium and prestige brands will of course continue to charge premium and prestige prices, because that is their market.
there's enough competition in the EV sector for margins to remain fairly low. o saw a chart once. Tesla is the only one with big margins, i remember.
Margins aren't just low, many times they're negative! Rivian is losing something like 30% of the sales price each car. Tesla's margins used to be some of the best in the entire auto industry at like 25%, but are slimming down to 17% now.