#affordableevs

Following Tesla has always been a whiplash-inducing experience. The will they, won’t they themes continue in 2024, as the automaker recently reversed its reported decision to nix affordable EV plans, though the flip appears related to less-than-stellar first-quarter performance.

Kia recently announced plans to develop new hybrid and plug-in hybrid models to help it cope with wavering EV demand, but that hasn’t stopped the automaker’s trudge toward full electrification. In fact, Kia’s CEO said the company was pushing forward with plans to release an affordable electric car called the EV3.

Yesterday, we covered Tesla boss Elon Musk refuting a Reuters report that the company is canceling its affordable EV. Musk also said that Tesla will be unveiling robotaxis this summer.

Affordable EVs seem to be a nut that no automaker can crack, as every promise of a “sub-$30,000” model or similar has fallen through in favor of higher prices. It now seems that Tesla is following suit, despite repeated promises that it would develop a mass-market EV at a reasonable price. Earlier today, Reuters reported that the automaker had ditched its efforts to develop the car and would look instead at developing autonomous taxis on the platform that would have underpinned it.

A few weeks ago, Ford announced that it had created an internal skunkworks team to focus on affordable EVs and a new platform to underpin them. Bloomberg recently reported more deeply on the project, noting that The Blue Oval may be planning up to three new electric models on the new architecture, including a compact SUV and a small pickup truck.

The long-rumored affordable, entry-level Tesla is almost here – maybe. Four years after the automaker first said it would build a cheaper EV, it appears things are in motion. Tesla reportedly alerted suppliers that it would start building a mass-market compact crossover in the middle of 2025, which would become one of the most affordable electric models on sale if it becomes a reality.