More development will need to be done on battery development to both increase supply and increase the range vehicles will be able to attain between charges. Otherwise, battery powered vehicles will remain affordable for the middle class.

Bloomberg:

The world’s largest carmaker will equip 16 factories to produce electric vehicles by the end of 2022, compared with three currently, Volkswagen said Tuesday in Berlin. The German manufacturer’s plans to build as many as 3 million of the cars a year by 2025 is backstopped by deals with suppliers including Samsung SDI Co.LG Chem Ltd. and Contemporary Amperex Technology Ltd. for batteries in Europe and China.