As long as electric cars and their components are hand-built, you will never be able to get one that is highway capable with at least 100 miles range for under $40k. That's the reality; UEV doesn't have the funds or necessary economies of scale for a mass production run, otherwise they probably would have this vehicle much cheaper.
However, it is in theory possible to build an EV that gets 150 miles range, 0-60 mph in 7 seconds, top speed of 120 mph for ~$15k. We have the technology. It's a matter of production volume.
The big automakers refuse to touch EVs, as they will detract from sales of high-maintenance IC vehicles that generate far more money over their lifetime and have a much higher replacement rate and shorter lifespan than any comparable EV.
Imagine if cars lasted 500,000-1,000,000 miles and 30-40 years, instead of 150,000 miles and 10-15 years. Now add to that there would never be any engine maintenance to profit from. You'd be saving so much money with an EV that would otherwise be lining the profit margins of shareholders and executives...
You may be right. But most people in this country don't keep changing cars every three years because they want to. Many of the cars on our roads are used, and they are gotten rid of when they have too many problems to be worth fixing.
Your assessment is certainly correct of those who always have the cash to buy a new car, but I don't think it accurately models your Joe Sixpack.