Any supplier will charge the maximum that they think that they can get away with. Look at the current competition:-
VW id3 - £36K
Renault Megane ev - £35K minimum.
Cupra Born - £35K minimum
Vauxhall Mokka-e - £32K minimum.
So.... Does the £32K for the Ora Cat look unreasonable, against the current market place? Marmite looks not withstanding. It's 10% cheaper than the equivalent VW, Cupra or Renault.
The real BEV market disruptor will be the MG4, coming in at about £26K. If that arrives in sufficient numbers, then that will make the suppliers look very hard at their pricing.
What is a reasonable price for an iPhone 11, based on production cost? - Much, much lower than it is, but Apple sells it for the maximum that it can get away with. Same with Dyson products. (please, no long-term debate about Apple or Dyson products)
Market forces.
It's all about what people feel is acceptable and the supply and demand.
VW or Apple can say whatever price and you'll always have people saying take my money in a respected and established brand.
Something like an obscure brand as Ora in the UK going me too and pricing it at premium level isn't going to work unless it has a strong USP like incredible range/efficiency or stunning style.
It's rivial is the MG not VW, but it wants to be seen as higher.
It doesn't help that it was been talked of at £18,000 originally based on the Chinese getting it at £12.6k (104k yuan) after their grant.
People were still generally excited at £25k before a £2.5k grant making it a potential people's car at £22.5k
They couldn't have predicted the world going to pot but made the mistake of giving the press a figure before it was ready and had to backtrack it to well £25-30k.
Then pricing the car at five pounds less than the £32k threshold which coincidentally gets pulls days later was hilarious.
They now got to face trying to sell it at that or drop it a significant amount.
Looks like they have gone dark to lose attention and then come back once it's blown over hoping people have short memories.