From Fortune:

Several major carmakers have scaled back production of EVs, but a wave of new electric vehicle models is set to hit the US market, with 24 new models expected to launch this year, representing nearly a 50% increase in the number of models currently available. Some of these new models are expected to start at less than $50,000, making electric vehicles more affordable to a broader demographic of buyers.

Affordability has been a key hurdle to further EV adoption in the US, but lower prices and increased profit margins could be on the horizon as more affordable electric vehicle models are expected to debut this year. Despite the growth of the electric car market, high prices, interest rates, charging infrastructure concerns, and inventory issues continue to present obstacles to widespread adoption.

This year, US drivers can expect to see the debut of several new electric vehicle models, including the Volvo EX30, Honda Prologue, Chevrolet Equinox EV, Mini Aceman EV and Countryman Electric, Fiat 500e, Chevrolet Silverado, GMC Sierra, Ram 1500, Acura ZDX, Cadillac Escalade IQ, Lucid Gravity, Maserati Grecale Folgore, Mercedes EQG, Polestar 3, and possibly a fully electric Range Rover.

Despite production cutbacks by major carmakers, there will be a wave of new electric vehicle models available in the US this year, with at least 24 new models scheduled to debut. These new arrivals are expected to increase the appeal of electric vehicles to a broader demographic of buyers, as some models are projected to start at under $50,000, addressing the key hurdle of affordability to further EV adoption.



Read more: When will EVs costing less than $50,000 hit the market?