EV Battery Costs Increasing

The article below discusses the rising cost of manufacturing electric vehicle (EV) batteries and how it is affecting the affordability of EVs. While experts had predicted that prices would go down as battery efficiency improved, the cost of materials such as nickel, cobalt, and lithium has been increasing. As a result, the average pack price of EV batteries has increased by 7% in 2022, which is the first increase in the history of the survey.

There is also the problem of some older EVs which now need new batteries. This is something we all knew would happen, but it seemed like one of those things which are still years from taking place.

The article also notes the environmental concerns associated with disposing of EV batteries and the need to develop recycling solutions.

Despite these challenges, the article suggests that automakers are looking for alternative materials to build batteries, which could eventually lead to more affordable EVs. Overall, the article raises important issues about the cost and sustainability of EVs, but also highlights efforts to address these challenges and make EVs more accessible to everyone.

Right now, many governments and institutions around the world are *hoping* these problems will be corrected and are forcing the masses to buy into their dreams.

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https://www.motorbiscuit.com/more-affordable-electric-cars-can-be-killed-by-1-factor/

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