Raw material costs for electric vehicles have doubled during the pandemic (US.TSLA) (US.RIVN) (US.GM) - 22 iunie 2022

Raw material costs for electric vehicles more than doubled during the coronavirus pandemic, according to a new report Wednesday by AlixPartners, forcing automakers from General Motors and Tesla to start-ups like Lucid and Rivian to significantly raise prices on new vehicles. Average raw material cost 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. Ford Motor (US.F) CFO John Lawler last week said rising commodity costs have wiped out the profit it initially expected to make on its electric Mustang Mach-E. While the vehicle was profitable when it was first launched in late 2020, he said that’s no longer the case.

https://www.cnbc.com/2022/06/22/electric-vehicle-raw-material-costs-doubled-during-pandemic.html