The electric vehicle (EV) market is undergoing a significant transformation, with prices becoming more competitive compared to traditional gas-powered cars. Leading the charge is Tesla, which has made its vehicles more affordable, especially when factoring in federal rebates. This shift is in line with the Biden administration's goal for EVs to represent half of new car sales by 2030. As EVs become more accessible and their adoption rate increases, the automotive industry is poised for a major overhaul, with startups challenging legacy automakers and the broader transition signaling a move towards a more sustainable future.
Photo Credit: Dmitry Novikov