Because people are buying all the mid- and high-end EVs. If it's more profitable, there's some sense to it until that saturates (although it sounds like that's finally happening maybe)
GM tried real hard for the lower-end. And cars like the Bolt EUV ended up actually really good especially for the price. Then they cancelled it because they just weren't making enough money or volume or scaling like they wanted.
And at the moment ALL the carmakers have gone kinda nuts with pricing. And sales are still super strong overall. Just...softening. Apparently especially for EVs.
Also, people are paying way, way too much for cars. It's insane how many people making $60,000 a year or less are buying cars worth almost that much, and taking out these ridiculous loans. I guess the interest rate hikes are putting a little damper on it, but it's been just stupid.