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Electric vehicle prices expected to skyrocket Electric vehicle prices expected to skyrocket

Electric Cars

Electric vehicle prices expected to skyrocket

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With the average cost of gasoline more than doubling in two years, many Americans are considering buying their first electric car to offset rising fuel prices. However, there is a caveat: electric vehicles are becoming more expensive due to rising prices for raw materials. This can lead to a sharp rise in car prices in the coming years.

Both Ford and General Motors have shared examples of cost increases in their first-quarter financial results, leading to sharp revisions to their FY2022 commodity spending forecasts. GM nearly doubled its cost forecast to $5 billion, while Ford increased its forecast from $1.5 billion to $4 billion.

Battery prices may soon rise despite a steady decline for more than a decade. Sam Jaffe, vice president of Colorado-based research firm E Source, predicts raw material shortages could lead to a 22% increase in battery cell costs by 2026.

Electric vehicle prices expected to skyrocket

Many global car manufacturers have pledged to switch to electric vehicles by the end of the decade. At the same time, the price of lithium has reached record levels in recent months. Volvo CEO and President Jim Rowan expects battery supplies to become scarce “in the coming years,” as does Stellantis CEO Carlos Tavares.

It’s worth noting that the price of the Tesla Model 3 Standard Range has gone up several times since February 2021, when it was $38,190. In March 2022, the price was already $46,990. Automaker Rivian has previously raised prices for its electric vehicles, with the R1T up 17% to $78,975 and the R1S up 20% to $84,000. Lucid also increased the cost of its Air luxury electric sedan by 13%.

As we have already reported, the average price of a new electric car in China is about 10% higher than the average price of a similar car with an internal combustion engine.

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Electric Cars

Elon, are you okay? The head of Tesla abruptly stopped posting anything on Twitter

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Elon are you okay The head of Tesla abruptly stopped

Elon Musk celebrated the milestone of 100 million followers on the social network Twitter in an uncharacteristic way for him: he did not write anything about this at all.

Many have already noticed that the billionaire, who recently was about to acquire Twitter and regularly left a lot of interesting and not very messages on the social network, has not published anything on the social network for the ninth day in a row. His last post was related to the next increase in gasoline prices in the US, he was made on June 21.

Elon, are you okay?  The head of Tesla abruptly stopped posting anything on Twitter

In the five weeks leading up to June 16, Elon Musk averaged 145 tweets and retweets per week, or about 21 per day. On June 16, an open letter signed by SpaceX employees was released, describing Musk’s tweets as “a frequent source of distraction and embarrassment.”

Some of those who signed the letter were immediately fired, but Musk’s tweets plummeted, and after June 21, he stopped posting anything on the social network.

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Electric Cars

Are American lives more important than Mexican lives? Crash test of two Hyundai cars for different markets clearly showed the problem of double standards in the industry

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Are American lives more important than Mexican lives Crash test

Global NCAP experts decided to bring together in one crash test two similar cars created for different markets.

Are American lives more important than Mexican lives?  Crash test of two Hyundai cars for different markets clearly showed the problem of double standards in the industry

Hyundai Accent for the US market and Hyundai Grand i10 for Mexico and Latin America decided to push their foreheads together. These are the most affordable models of the Korean company, which are sold in their respective markets. This is not the same car under different names, as sometimes happens, but still the difference in results was huge.

Just one video is enough to understand that the Grand i10 received much more damage. Unfortunately, the same applies to mannequins. Grand i10 is equipped with only two frontal airbags compared to six in Accent. This further aggravated the situation for the first model. It ended up with zero stars. The source does not disclose the Accent result, but speaks of good driver protection. In addition, if you look at the IHSS website, you can see that this car received the maximum score on almost all points.

With this comparison, Global NCAP specialists want to draw attention to the problem of double standards of automakers that are used when creating cars for different markets.

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Electric Cars

The Wall Street Journal: Tesla will close one of its offices in California and lay off 200 employees who worked on improving the autopilot

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The Wall Street Journal Tesla will close one of its

The Wall Street Journal, citing its own sources, reported that Tesla plans to liquidate one of its offices in California, about 200 employees will be laid off.

The Wall Street Journal: Tesla will close one of its offices in California and lay off 200 employees who worked on improving the autopilot

According to the publication, in order to reduce costs, the company is closing an office in San Mateo. More than half of its staff has received notices of dismissal from their positions, and the remainder of the staff will be distributed among other company offices. It is noted that most of the employees who were laid off were engaged in improving the Tesla autopilot.

Earlier, Tesla CEO Elon Musk said he had a “very bad feeling about [американской] economy” and warned of the intention to “cut approximately 10% of employees” and “suspend hiring worldwide.” Speaking at the technology All-in Summit conference in Miami in mid-May, Musk said that the United States economy is in a recession and will come out of it no earlier than a year.

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