Safety, fuel economy, emissions and other government regulations drive up the costs and complexity of vehicles. This then increases the costs to repair vehicles and both of these drive up the costs to insure vehicles. These regulations are regressive tax hurting the poorest the most. It keeps up the demand for public transportation which has to be subsidized as it is not self sufficient.
The demand for EVs seems to have plateaued. The Biden admin is likely to roll back their regulations as a result (and because its an election year?)- https://www.nytimes.com/2024/02/17/climate/biden-epa-auto-emissions.html#:.
Ford is willing to lose $5billion on EVs to meet these regulations because selling some electric Ford Lightnings and mustangs allows them to bring down their AVERAGE fuel economy and sell more $75,000 F150s. It is a terrible waste of resources, IMO. If automakers were allowed to meet the demands of the market and not federal regulations, there would be many more less expensive vehicles made.