I modeled sustainable vehicle transition market dynamics in graduate school around 2010. One of the trends my model identified was that only higher income peopl

I modeled sustainable vehicle transition market dynamics in graduate school around 2010. One of the trends my model identified was that only higher income people were going to willingly adopt EVs because only those with disposable incomes were really equipped to take advantage of the financial benefits of EVs. However, the luxury car market is tough. The manufacturer must deliver perceived value for the money, e.g., your $100k car better match its competition at that level or it's not going to sell. Interestingly, what came out, was that consumers want cheap ICE vehicles when energy prices go up. The issue is that the efficiency returns do not make up for the additional costs of the electrified drivetrains, especially when disposable income is limited.