111 EVs Have Hit Price-Parity With Internal Combustion Engine Vehicles As battery costs continue to decline, EV prices should fall, potentially driving exponential growth in unit sales. US New Vehicle Transaction Price Vehicle Price vs Addressable Market New-Vehicle Transaction Price (Average) New-Vehicle Transaction Price Before Supply Chain Bottlenecks Linear (New-Vehicle Transaction Price Before Supply Chain Bottlenecks) 100% $85,000 P 90% R S 80% ES Luxury Car M L y $75,000 B IC 70% e VEH Full-Size Pickup Truck har S 60% IC $65,000 R e T ice Luxury Compact nu 50% r e EC P v $55,000 SUV/Crossover e EL R 40% age Electric Vehicle r e e Tesla Model Y l $45,000 ab 30% Av s Tesla Model 3 s e r 20% d $35,000 Ad 10% $25,000 Compact Car 0% 125 100 75 50 25 0 2012 2014 2016 2018 2020 2022 2024 2026 $125 $100 $75 $50 $25 $0 2023 US Dollars (Thousands)* *Older data points adjusted to 2023 dollars using CPI. Segment average transaction prices are as of September 2023 as reported by Cox Automotive. Tesla Model Y LR price taken from Tesla website as of December 2023. Sources: ARK Investment Management LLC, 2024, based on data from Cox Automotive 2023.. Forecasts are inherently limited and cannot be relied upon. For informational purposes only and should not be considered investment advice or a recommendation to buy, sell, or hold any particular security. Past performance is not indicative of future results.