Talk Morgan Forums Community Vehicle Talk (non-Morgan) Time for Electric Power?

Why are electric cars so expensive? I understand development costs have to be recovered but this could be spread over greater time given the seemingly inevitable switch to pure EV and not covered just by early adopters. Electric motors are very simple with few moving parts, complex transmissions shouldn't be needed given motors torque characteristics, so we are left with a pile of control circuitry which costs next to nothing in terms of raw materials plus the battery. Are the latter really that expensive to produce