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By 2030, the consultancy believes battery prices will be around $85/kWh. Even then, electric cars would be 9 percent more expensive to produce.<ref>https://insideevs.com/news/444542/evs-45-percent-more-expensive-make-ice/#:~:text=EVs%20Are%20Still%2045%25%20More,Make%20Than%20Combustion%2DEngined%20Cars</ref> | By 2030, the consultancy believes battery prices will be around $85/kWh. Even then, electric cars would be 9 percent more expensive to produce.<ref>https://insideevs.com/news/444542/evs-45-percent-more-expensive-make-ice/#:~:text=EVs%20Are%20Still%2045%25%20More,Make%20Than%20Combustion%2DEngined%20Cars</ref> | ||
Recent reports show that raw material costs for electric vehicles more than doubled during the coronavirus pandemic. Average raw material costs for an EV totaled $8,255 per vehicle as of May, up 144% from $3,381 per vehicle in March 2020, led by materials such as cobalt, nickel and lithium – all essential for the production of batteries used to power electric cars and trucks. EV-specific costs have increased to $4,500 from roughly $2,000 in the past two years, according to AlixPartners. | Recent reports from 2022, show that raw material costs for electric vehicles more than doubled during the coronavirus pandemic. Average raw material costs for an EV totaled $8,255 per vehicle as of May, up 144% from $3,381 per vehicle in March 2020, led by materials such as cobalt, nickel and lithium – all essential for the production of batteries used to power electric cars and trucks. EV-specific costs have increased to $4,500 from roughly $2,000 in the past two years, according to AlixPartners. | ||
Raw material costs for traditional vehicles with internal combustion engines have also more than doubled during that time period to $3,662 per vehicle, up 106% from an average of $1,779 per vehicle in March 2020. That uptick is being led by increases in steel and aluminum. <ref>https://www.cnbc.com/2022/06/22/electric-vehicle-raw-material-costs-doubled-during-pandemic.html</ref> | Raw material costs for traditional vehicles with internal combustion engines have also more than doubled during that time period to $3,662 per vehicle, up 106% from an average of $1,779 per vehicle in March 2020. That uptick is being led by increases in steel and aluminum. <ref>https://www.cnbc.com/2022/06/22/electric-vehicle-raw-material-costs-doubled-during-pandemic.html</ref> |