Automotive

EV Sales Remain Strong Despite Battery Costs

Evs are popular but there is also an unprecedented inventory situation at play here resulting in people paying more for vehicles across the market.
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EV Sales Remain Strong Despite Battery Costs

Customers are still seeking EVs, despite steep price increases driven by international supply factors. Battery Cells cost an estimated $160 per KWH vs. $105 a year ago. The best-selling EV in China has increased costs by 30% in the same time frame. 

Now and later. Q1 of 2022 saw EV sales increase by 120%. Experts project elevated battery prices for another year but expect EV demand to only increase in the meantime.

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