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Will the price of electric cars skyrocket?

Europe has decided: 100% of cars sold from 2035 must be strictly electric. And some “good students” countries or cities have even announced that they want to anticipate this date. But this great idea has lead in the wing. Firstly because member countries like the Czech Republic (whose economy relies heavily on car manufacturing), Germany and Italy have already very officially made it known that they will not follow this directive. And above all, there are recent events on the side of Ukraine.

Given the current context, are you thinking of investing in an electric car? – Pixabay

metals market

Between this European decision and that of countries like Norway for example, which wants to ban non-electric cars from 2025, manufacturers are working hard to develop their electric offer. Of course, the demand for raw materials is exploding, and the same goes for the price of these. Demonstration with nickel, currently essential in the production of batteries for electric cars.

New Renault-Nissan-Mitsubishi electric platform
New Renault-Nissan-Mitsubishi electric platform – DR

Since the beginning of the year, its price had already increased by some 76%. And now this metal, of which 7% of the total used comes from Russia (2nd largest producer in the world after Indonesia), has seen its price increase by… 250% in 2 days. Current price: 100,000 dollars per ton. It goes without saying that this explosion will have to be passed on to car prices. In short, for the total transition, it’s not won…

Source: 20minutes

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