EVs still are flexing in New York

Last week was the 2026 New York International Auto Show, and it had several interesting debuts despite the decline of both the auto show and the United States of America. Despite President Trump’s best efforts, EVs are still advancing (and perhaps Trump is doing more for EVs than he even realizes with the war with Iran). Kia debuted the U.S.-spec of the EV3. Hyundai dropped a body-on-frame concept that is likely EREV-powered. Subaru showed off its version of the Toyota Highlander EV. In many ways, this makes sense. The average price of electricity in the United States right now is 14.2 cents per kWh. The residential average is 17.5 cents. Both WTI and Brent crudes are over $100 per barrel. Buying a gasoline-only vehicle today is far less compelling than it was a year ago, even with the EV tax incentive. Hyundai, a powerhouse in vertical integration, is selling more Ioniq 5 EVs now than it was when we still had the tax incentive. The aggressive pricing certainly helps, but it’s possible because of Hyundai’s dominance in its supply chain. While stuffing a Hemi into everything is certainly a strategy, it’s worth noting that Toyota and Subaru have more EVs on sale in the United States than Ford and Stellantis. Sure, cutting gas taxes or replacing petroleum with more corn-based ethanol might lower prices a bit, but neither is the long-term solution to the energy independence we desperately need. While I believe that Trump’s tariffs are a net negative for the industry and the overall economy, they may have accelerated some automakers’ timelines for building and deploying in the United States. During José Muñoz’s presentation in New York, he talked about how soon even more vehicles will be assembled in the United States, using Hyundai Steel made in the United States. There have been several times during my career covering the industry where I’ve witnessed what I call “real power.” Hyundai is building real power quickly — and still mostly quietly — here and abroad. There are great new EVs out there that aren’t Tesla. I see more and more new Tesla models every day, and I guess that’s good for them. Objectively, what makes Tesla strong doesn’t really exist anymore (except its route-planning), so you don’t have to feel like you have to get a Tesla to get into the EV game. The used market is also quite insane right now. My friend — and sometimes boss — Jonathan Gitlin has been documenting cheap EVs over on Ars Technica, and there are some you have to see to believe. And if you live in Colorado, you can get a brand-new Nissan Leaf for under $20,000. Folks, these cars are good. We’re settling into the new normal when it comes to EVs, and the future still appears bright in that regard. Depending on how the war turns out and how long it lasts, energy prices will start to play a bigger role in new-car purchases.