The priciest component in an EV is the battery. Ongoing R&D and economies of scale are still driving down the price per kWh:
Attachment 20991
(From article:
The story of cheaper batteries, from smartphones to Teslas)
The other thing that affects battery pricing is pack size. Small car, small pack, small range = small price.
The world's best-selling EV starts at
$4,162 USD and has a
~170 km = 110 mile range and ~100 km/h = 62 MPH top speed:
Attachment 20992
It's the "Chinese Mirage of EV's!" And it comes with AC, power windows, ABS, TPS, parking sensors, etc.
https://en.wikipedia.org/wiki/Wuling_Hongguang_Mini_EV
No doubt a "cheap", small EV can be built that meets US safety regs with similar range and a higher top speed.
The big question is how much profit margin is there in a cheap, penalty box EV for the poors? And would people buy a 100 mile car just to get that new car warranty?