Europe is enjoying the advantages of an open market with an impressive $22K electric vehicle, while the US market remains unexciting.

      This isn't the first time I've observed European or Chinese car buyers being given the opportunity to purchase genuinely affordable EVs. Meanwhile, American consumers continue to hear about elevated starting prices and reduced features in entry-level trims.

      Geely's latest compact electric hatchback is priced at 19,490 EUR in Belgium, approximately $22,490, and serves as yet another illustration of this trend. While this entry price is offered for a limited time, it reflects the overall value that the automaker provides.

      So, what exactly has Geely introduced?

      The Geely E2, known as the Geely Xingyuan in China, was the best-selling car in 2025, with 465,000 units sold that year. It is already topping sales once more in the first half of 2026.

      In addition to the price, it’s essential to note what the Geely E2 offers in Europe. The features include a 35 kWh battery pack on the base Pro trim, boasting a claimed WLTP range of 156 miles. Buyers also receive seven airbags, a 14.6-inch infotainment display, a 375-liter trunk, and a 70-liter front storage compartment.

      For those seeking more range, there’s a 47 kWh battery pack available, extending the claimed range to 214 miles. As depicted in the images, the EV showcases a minimalist yet practical design, featuring sleek headlights, standard door handles, stylish rims, and a simple rear profile with only essential elements.

      Inside, the vehicle can comfortably accommodate four passengers. It’s suitable for commuting to work or taking kids to college while allowing buyers to save thousands compared to more expensive options. However, Geely has no plans to market the E2 in the US.

      So, what can $22,000 actually buy in America?

      Nothing that remotely compares. The least expensive EV in the US at present is the revived Chevrolet Bolt, priced at $28,995, followed by the Nissan Leaf at about $31,535 and the Hyundai Kona Electric at $34,470. Even Tesla’s most affordable option, the Model 3 (RWD), starts at $36,990, and the final out-of-pocket cost is often even higher.

      The lone exception is Slate, the startup backed by Jeff Bezos, which offers a basic electric pickup for $24,950. While it's undeniably cheap, I can't recommend it to everyone, as it lacks nearly all the features you would expect to come standard in a 2026 vehicle, such as power windows, powered seats, a factory paint finish, or even a center console (let alone a center infotainment screen).

      In short, the sub-$25,000 EV segment in the US resembles an empty showroom, devoid of mass-market models, while other markets like China benefit from increased competition among manufacturers, leading to a wealth of feature-rich options.

      Were Ford and Volkswagen not developing affordable EVs?

      It’s not as if all American automakers are overlooking this gap. Ford is currently working on prototypes for a $30,000 midsize EV pickup, based on their new Universal EV Platform, utilizing megacasting and domestically sourced LFP batteries to achieve that price point, although it may not launch until next year.

      Likewise, Volkswagen's under-$27,000 ID.2 hatchback has been delayed since 2023, although the company hopes to begin production by 2026. Clearly, both automakers intend to capture a part of the affordable EV market, yet neither has a model ready for the streets.

      I also discussed the IEA’s Global EV Outlook 2026 report in June, which highlighted the global surge in EV adoption driven by falling prices—except in the US.

      In fact, recent policy changes, such as the removal of tax credits and the imposition of 100% import duties on Chinese EVs, prevent Americans from purchasing affordable, everyday EVs that reduce gasoline expenses while being environmentally friendly. Consequently, buyers are forced to pay a premium that isn't required for European and Chinese consumers.