While General Motors revives its affordable Bolt model, Ford is postponing investment in EV manufacturing investment because it believes customers in North America are unwilling to pay a premium for an EV. This is a sign that automakers are starting to shift their attention towards producing more affordable electric vehicles.

We're no longer living in times when people are rushing to buy an electric vehicle because gas is so expensive. We're no longer living in times where electric vehicles are an up and coming cool technology and very few cars on the road are electric. We're living in times where electric vehicles are becoming mainstream. When ordering a ride on Uber or Lyft, you're finding more drivers using electric vehicles to provide people rides. Middle class neighborhoods are starting to fill up with electric vehicles.

Luxury electric vehicles like the Audi eTron GT and all of Mercedes Benz's electric models are struggling to generate sales for dealers. Ford is finding fewer buyers for its electric F-150 Lightning as fewer wealthy people are looking to buy an electric truck. Tesla, the pioneer of the electric vehicle industry, continues to slash prices for all of its models (yes, even for its Model S and X) as there is less demand for its vehicles. While Tesla has a luxury brand appeal, it's cutting prices to become more appealing to the mass market.

With a possible richession (a recession for the rich) happening, automakers are finally getting the push they need to pivot their electric vehicle manufacturing plans to target the mass market. No longer will electric vehicles think that all they need to do is target wealthy buyers and they can comfortably rely on the high profit margins as a mass market brand for the rest of time.

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