EV makers forced to raise prices because of Raw Materials
Several EV makers have raised their prices this month, citing surging raw material costs. BYD, Tesla, Xpeng, Li Auto and Rivian all ended up passing on higher raw material prices to consumers. One does wonder what this means for potential EV buyers? EV prices were already well out of kilter with consumer affordability, even before these price increases. The median EV selling price for the top 10 models in Europe in January was £33,000, while it averaged £34,000 for 2021. Given that the median ICE selling price is £15-20,000, this does not bode well for the possibility of mass market...