Electric car manufacturers have raised prices

Tesla, Ford, GM, Rivian and Lucid noticeably increase EV prices in 2022


An editor at eMobilCar

  • 2 min read

American companies Tesla, Ford, GM, Rivian and Lucid have markedly increased the cost of electric vehicles over the past few months, according to The Wall Street Journal.

In mid-June, General Motors added $6,250 to the price of GMC Hummer electric pickups, which now range in price from $85,000 to $105,000. General Motors announced a rise in prices for materials and logistics.

Tesla in 2022 increased the price of its Performance version of the Model Y SUV electric car three times since the beginning of the year, increasing the price tag by approximately 9% ($6,300). Now the cost of the model is 69 900 dollars.

Automakers attributed the rise in prices of electric vehicles to a significant increase in the cost of raw materials for the production of batteries, which are the most expensive part of electric cars. The price of lithium, nickel and cobalt has almost doubled compared to the pre-pandemic period. The development of electric vehicles in two years has risen in price by 2 times. By 2026, automakers are expected to spend $526 billion to transition to electric vehicles. Raising the price of raw materials may complicate this process.

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