Long-awaited price war a sign of rapid transformation in electric vehicle sector

Splashy headlines about Tesla slashing prices for its entry-level electric SUVs below the average cost of new U.S. cars and trucks — including gasoline burners — may be a little less dramatic than they appear, considering the average cost of a new vehicle is close to $50,000 US.

But people who watch the industry say the Tesla move is just one indicator of a global transformation in the automotive sector, as legacy car makers learn how to make electric vehicles (EVs) as efficiently as the internal combustion vehicles that still provide most of their income.

They say the breakneck transition that few foresaw only two or three years ago will have effects throughout the economy, not just in things like battery production

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