Considering the Model Y may very well outsell the Corolla this year, that doesn't look like it is the case any more. While they generally are more expensive up front, the total cost of ownership can end up less when you calculate fuel and maintenance.
yes, but say toyota would want to significantly ramp up ev production tomorrow, it is not clear if they will get the same pricing as tesla who already secured contracts before demand started growing.
Prices are already coming down. China actually has lots of cheap EVs on the road already. Think <10000$ cars. Are these cars amazing. No. But they are amazingly good value for the money.
What's going to happen in the next 3 years is that several of those Chinese manufacturers are bringing production capacity online in Europe and North America. And they will start selling these vehicles at a premium and make a lot of profit because they don't have much local competition in terms of cost. Tesla is rumored to be working on a cheaper EV but they will likely build it for the international market and manufacture it in their Mexican plant.
Meanwhile, the cost price of batteries keeps on dropping. CATL and other manufacturers are announcing new batteries all the time. For example CATL has had some success with bringing sodium ion batteries to market as well as LFP batteries. Component prices for EVs are dropping as well. It's not impossible to scale EV production. That's actually what's happening. Production volumes are growing year on year and cost per vehicle is trending down.
The thing is current battery tech is still too expensive. Can you imagine what will happen to the price if the production levels of EVs went up?
It’s simply impossible to mass produce EVs cheaply at the moment.