The costs reduce the company's profitability until EVs are profitable, but they don't dictate the end price of the product. The companies are going to maximize total profits by finding a point at which the consumer is willing to buy the next marginal product at an increased total profit.
1 product at a marginal cost of 1 per sold for 50 = 49 profit
10 products at a marginal cost of 1 per sold for 20 = 190 profit
100 products at a marginal cost of 1 per sold for 2.50 = 150 profit
It's a conversation between producers and consumers. Costs set the minimum that a producer is willing to make something at, the consumer sets the maximum that they will buy it at and the market is a determination of where the most efficient quantity of production and pricing occurs. If costs were high the company would fold rather than continue to make products, because the minimum price would exceed consumer demand.
The reason prices are high is that auto companies had production shortages due to government shutdowns, which created a backlog of demand and a higher price point that the consumer was willing to pay. As they worked through their backlog due to a combination of reducing demand side (to match their maximum production) by increasing prices and by other market forces, raising interest rates, the car companies have been able to fulfill their backlog of orders and are now in an environment of oversupply, which means…. The return of Truck Month and Truckathon!
https://finance.yahoo.com/news/car-market-prices-plummet-due-153706713.html .