I think internal combustion vehicles are not going away any time soon, but the cost of running them is going to become less and less favorable compared to an EV. I'm not saying that electric vehicles are going to get cheaper to buy or to operate. Just the opposite. I figure the electricity price isn't going anywhere but up because demand is growing and costs of generating and distributing it are growing too. But I expect gas prices are going to rise a lot more over the long term (governments will make sure of it) until a point where it just doesn't make financial sense to drive with it when EVs are an option. There are already situations where EVs are a more economical option, but people have trouble buying them because they can't be built fast enough.
I also think that, barring a miraculous advancement in battery technology, a lot of people are going to have to learn to settle for shorter range vehicles and public transportation.
Technology doesn't get more expensive over time, generally speaking, which is why battery cost has been trending downwards.
Increasing electricity consumption should also drive the price down, not up, especially if we can successfully shift the bulk of charging to off peak hours. It's peak consumption which is costly, not baseload. The closer baseload and peak consumption are, the more affordable the electricity is. Think about it this way; if we have to build a billion dollar power plant so that there's enough electricity for 1 day out of the year for 4 hours where electricity demand peaks, then that is a very costly 4 hours. Things are cheaper if they get utilized continuously rather than infrequently because the cost is amortized over a longer period of utilization.
As a tangent, that's precisely why solar and wind cause the cost of dispatchable (variable with demand) electricity to cost more. A natural gas plant that was built with the expectation of delivering 1,000 GWh per year has a certain cost per unit energy delivered. If solar production causes that plant to only deliver 500 GWh per year, the fixed costs of constructing and maintaining that plant are spread over less delivered energy. Solar makes the cost of electricity go up because both the solar and the gas infrastructure must exist, yet gas must "bow out" whenever solar happens to be producing.
Public transportation is dead, it just doesn't know it yet. It's not affordable, because usually less than half the cost is covered by the fare, meaning local taxes cover a substantial amount of it. It's generally not environmentally friendly, because they are rarely operated at near capacity. It takes something like 15 people on a bus to be as fuel efficient per passenger mile as a single person in a Prius. 2 people in a Prius is as fuel efficient as a fully loaded bus. 3 people in a Prius exceeds the passenger mile efficiency of city buses. Finally, and this is probably most important, public transportation takes you from where you don't live, to not quite where you need to be. Ain't nobody got time for that.