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Electric cars: why will prices continue to rise? News from Auto Plus in your smartphone News from Auto Plus in your mailbox

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Electric cars: why will prices continue to rise?  News from Auto Plus in your smartphone News from Auto Plus in your mailbox

As you know, the situation has been far from idyllic for several years. And it is not for nothing that the automotive industry is experiencing a serious crisis that has been going on for more than two years. The Covid-19 epidemic, factory closures, semiconductor shortages, or even logistical problems related to war in Ukraine, it all starts to do a lot. So it slows down production and also raises the price of new cars, while inflation skyrockets. But that’s not all. Indeed, the industry is also dealing with a shortage of raw materials to develop batteries for electric vehicles. As a result, the prices of materials and cars are also rising. And it shouldn’t stop anytime soon.

Prices are still rising

Indeed, prices should continue to rise in the coming months. Anyway, that’s what I think Jim Farley, the current boss of Ford. During an event held at the brand’s factory in Michigan, the CEO did state that: I don’t think lithium, cobalt and nickel are going to help us any time soon.“. Indeed, the demand for these materials is too high compared to their quantity, especially since sales of electric vehicles have increased dramatically in recent months. According to the brand leader, therefore, it will be necessary to think about increasing the prices of his models. For example, the Ford F-150 Lightning will increase in price from 6 to 8,500 euros. And all electric cars must suffer.

Solutions exist

However, there are solutions to reduce the tension. This is especially true of LFP batteries, which do not use nickel or cobalt, but are composed of lithium phosphate and iron. Then it will reduce the prices of cars. In particular, starting next year, these batteries should be installed on the Ford F-150 Lightning and Mustang Mach-E. Solid-state batteries are also a good alternative, but they are not yet ready for production.

Author: Mary Lizak
Source: Auto Plus

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