Sorta, but. It's not really analogous. The "floor" on EV cost is the battery. It's the hugest bottleneck and although prices / kWh have come down drastically it

Sorta, but. It's not really analogous. The "floor" on EV cost is the battery. It's the hugest bottleneck and although prices / kWh have come down drastically it's still extremely high because supply is just not there. Meanwhile the floor on an ICE is more the complexity of manufacturing and labour. Some of which exists also for EVs.