The Price of Electric Cars is More Expensive Due to the Cost of Raw Materials Rising During the Covid-19 Pandemic,

The Price of Electric Cars is More Expensive Due to the Cost of Raw Materials Rising During the Covid-19 Pandemic,

Liputan6.com, Jakarta – The cost of raw materials for electric vehicles has more than doubled during the Covid-19 pandemic. This was revealed in a report by an international financial and consulting firm from the United States, alixpartners.

This increase in raw material costs has forced manufacturers such as General Motors, Tesla, to Lucid and Rivian to raise the prices of their new cars significantly.

Reported from CNBC International, Thursday (23/6/2022) the average cost of raw materials for electric vehicles in May 2022 reached 8,255 dollars (Rp. 122.4 million) per unit, or an increase of 144 percent.

This latest price marks a significant increase because it previously cost $3,381 (Rp. 50.1 million) per car in March 2020, when the Covid-19 outbreak began to spread widely in several countries.

Prices increase for premium materials such as cobalt, nickel and lithium, all of which are important for the production of batteries for electric cars and trucks.

The special fee for electric vehicles has increased to 4,500 dollars (Rp. 66.7 million) from about 2,000 dollars (Rp. 29.6 million) in the past two years, according to AlixPartners.

It turns out that the increase in production costs is not only happening for electric cars.

AlixPartners noted that the cost of raw materials for traditional vehicles with internal combustion engines also more than doubled during the same period, to $3,662 (Rp. 54.3 million) per vehicle, a 106 percent increase.

This high price increase was fueled by an increase in steel and aluminum.

The cost increase comes as automakers release new models of electric vehicles over the next few years.

AlixPartners estimates that the number of electric vehicle models available on the global market will increase from 80 last year to more than 200 by 2024.

As a result, AlixPartners predicts higher costs will force a sharp decline in the supply of electric vehicles, as manufacturers focus on profitability.

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