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Electric car prices are going up in 2022— by a lot

Electric car prices are going up in 2022— by a lot

Battery raw material price increases are boosting the price of electric cars in 2022

Russia’s Norilsk Nickel is the third-largest supplier of nickel. The war in Ukraine has caused many companies to stop buying from Norilsk. German company BASF processes nickel ore into battery-grade nickel and has announced with will no longer purchase from Norilsk,

The war and high demand for nickel has caused the market price to jump from $10,000 per ton to over $100,000 per ton by March 8, 2022. However, after the London Metal Exchange instituted a week-long suspension in nickel trading, the price has dropped a bit.

Electric car prices are going up for Tesla

In March 2022, Tesla increased prices twice, raising the price ot the Model 3 by $8,500 and increased the price of the Model Y to $64, 400.

Electric car prices are going up for Rivian

Rivian increased prices for the R1T pickup and R1S SUV by $12,000,

Electric car prices are going up for Mercedes-Benz

Mercedes-Benz announced an $11,000 price increase for the EQS

 

 

10,000 a month.

“I have never seen any score that low,” says Harry Hollenberg, a Carlisle partner who oversaw the survey. “Nobody else is in the ballpark.”

Posted on by Rick Muscoplat

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