I think, that EV is about the same age as ICE car. But there was long period, when cheap oil for ICE cars displaced EV-s into small niches (as a mean of transport in large indoor buildings, where exhaust gases of ICE cars are not tolerated, amusement parks etc.). Even now EVs are not competing with ICE cars without government subsidies.
Electric motors have a long constant evolution. Only battery technology has improved, but even there mobile phones and cameras made most of the job. I can not see the reason, why an EV should be more costly than an ICE car, other than amount of energy and resources involved. Many EV fans claim, that actually it is cheaper to build an EV than an ICE car. But if companies already spent their money (collected from sales of ICE cars) for development (and still survived), then they can now just collect the cash by mass production and offering with reasonable price. By unreasonably high prices they just avoid to earn back their investments. GM-s EV1 failed because they tried to mass sale those cars underpricing the car, but this is not sustainable for longer period if production costs are much higher than selling revenues.
Electric motors have a long constant evolution. Only battery technology has improved, but even there mobile phones and cameras made most of the job. I can not see the reason, why an EV should be more costly than an ICE car, other than amount of energy and resources involved. Many EV fans claim, that actually it is cheaper to build an EV than an ICE car. But if companies already spent their money (collected from sales of ICE cars) for development (and still survived), then they can now just collect the cash by mass production and offering with reasonable price. By unreasonably high prices they just avoid to earn back their investments. GM-s EV1 failed because they tried to mass sale those cars underpricing the car, but this is not sustainable for longer period if production costs are much higher than selling revenues.