Car Companies Shrink EVs and Features Because America Said 'No Thanks' to $70K
KEY POINTS
- •Federal tax credits for EVs ended recently, causing a slump in U.S. electric vehicle sales and forcing automakers to rethink pricing strategies.
- •Major manufacturers plan to release roughly 30 new electric vehicles in 2026, with 10 models priced under $50,000 aiming to attract more buyers.
- •Notably, Toyota and Subaru are collaborating closely, releasing nearly identical SUVs like the $35,000 Uncharted and C-HR, while startups like Slate offer minimalist trucks starting in the mid-$20,000s.
Trumpets, confetti, and a joint nod from Toyota and Subaru set the stage for America’s next EV chapter—mostly because the old one stalled without subsidies and affordability. Enter 2026, a lineup crowned by survival toys from the electric equivalent of IKEA (Slate’s modular truck starting in the mid-$20,000s with two cloth seats and no radio), Kia’s 300-mile EV3 at $35,000 trying to sell sporty practicality, and Rivian's higher-end R2 five-seater SUV priced ambitiously at $45,000, promising mass-market dreams amid persistent doubts. Meanwhile, Toyota’s resurrected C-HR and Subaru’s near-twin Uncharted sibling offer 290 miles for $35K, proving in 2026, badge swapping remains as alive as the gas engine is dead. The Subaru Trailseeker throws an all-wheel drive bone at nostalgia fans with 375 horsepower, sprinting to 60 mph in just over 4 seconds, staking claim at a low $40K price. With tax credits expired and manufacturers shelving billion-dollar flops, the market’s gamble is plain: dangle cheaper, simpler rides and maybe—just maybe—nobody calls EVs a rich person’s fad anymore.
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Electric car makers finally realized Americans won’t trade cassette decks for $70,000 bills. Welcome to EVs, IKEA edition: build your own crank windows for only $25,000.
The electric car industry: where removing features and slapping cheaper price tags might actually shock people into buying something.
If EV companies were chefs, Slate just served us plain toast with a side of empty wallets hoping we drizzle upgrade sauce later.
Source: Businessinsider | Published: 1/19/2026 | Author: Ben Shimkus
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