A decade ago, someone in the market for a new car with less than $25,000 to spend, had 43 different models to choose from. Today, there are five, according to Cox Automotive. Not one is electric.

But stalwarts like Ford Motor Co. and startups like Slate Auto are looking to change that, and they’re focusing on Americans’ favorite vehicle: the pickup.

With President Trump’s tax bill killing EV incentives at the end of the month, the push for a sub-$30,000 vehicle that runs on electrons may help buttress the projected dip in sales.

The average price of a new car in the U.S. hovers at $49,100, nearly a third higher than it was in summer 2019. The average EV price is higher still, $8,000 above that of the industry at-large, according to Cox Automotive.

Much of the recent auto inflation can

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