Europe is reaping the benefits of an open market with a terrific $22K EV, while the US market stays boring

Europe is experiencing a surge in affordable electric vehicles (EVs), with Geely's E2 compact hatchback leading the charge at a starting price of $22,490. This is a stark contrast to the US market, where EV options remain limited and costly. The E2 boasts a 35 kWh battery, a 156-mile range, and a host of standard features like seven airbags and a 14.6-inch infotainment screen.

However, Geely has no plans to bring the E2 to the US. America's cheapest EV currently costs $28,995, while Tesla's entry-level Model 3 starts at $36,990. The only exception is the Slate electric pickup, which tops out at $24,950. Other major US automakers, such as Ford and Volkswagen, are developing affordable EVs, but none are ready to hit the market just yet.

Meanwhile, China's EV industry is thriving, with Geely's E2 already leading sales in the first half of 2026. The US government's recent policy changes, including tax credit eliminations and import duties on Chinese EVs, have made it difficult for Americans to afford and purchase affordable EVs. Despite this, General Motors is set to switch to the North American Charging Standard (NACS) across its entire 2027 EV lineup, allowing for compatible charging at Tesla Superchargers and other networks.