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A lot of manufacturers are working towards a cheaper EV, they just don't know how to make a good profitable cheap EV yet. That's why they're doing the bigger more expensive ones first, so they can figure out how to do it cheaply, and also gives themselves time for all the infrastructure they're building like battery factories to come online which will also reduce cost.
There's a few cheaper ones out there like the Bolt, but GM lost money on that. It was just to get the brand out there and learn how to make EVs and get some ZEV credits. It's why they never went large scale with it.
But it's coming. In 5 years there will be plenty of cheaper EVs, and more of the consumer infrastructure will be improved too.