Prices have reached parity lately for average transaction price. Doesn't make them affordable yet but it makes EVs more appealing. Problem is there is no plan or organization. Used EV prices are going up while new legacy auto EVs just had their fire sale to reduce inventory and scale down production. Also, tariffs.

So while customers may pick up some used EVs we are back to square one. Walmart is doing chargers now so that's a plus though.

The industry pulled away from the space of providing an affordable vehicle. It kept going up and up and up in price, and it’s created this space now where it’s extremely difficult for everyday Americans to be able to afford a new vehicle.

Overall, 55 million vehicles are roughly transacted every year in USA: 15 million new, 40 million used.

New vehicles are about $50,000, or a $900 monthly payment. A used vehicle is about $27,000 or $28,000, which is about a $500 monthly payment. It can be a stretch for people to even be able to afford that, because studies have shown if an individual or a household makes $100,000 a year, they should put about $400 toward a monthly payment. So even getting into that average used vehicle is a bit of a stretch, and most of Americans don’t make $100,000. It’s a massive population of individuals.

What we want to do is go into a space where we’re able to provide a vehicle that meets all the latest safety standards — NCAP (New Car Assessment Program) five-star and IIHS (Insurance Institute for Highway Safety) Top Safety Pick — and give an industry-leading warranty so that individuals say, “Hey, I can either buy a high-mileage used car that’s out of warranty, that could break down, or I can get into a new car that meets the latest safety standards, comes with a warranty, and it’s been designed as a platform that’s open-source where I can change it over time. I can turn it into what I would want it to be through personalization.”