NZ Autocar
No Result
View All Result
  • Home
  • News
  • Reviews
  • Electric
  • Commercial
  • Industry
  • Bikes
  • Classics
  • Motorsport
  • Prices
    • New Car Prices
    • New Bike Prices
  • Subscribe
    • Print
    • Digital
  • Contact
    • Contact
    • Advertise
NZ Autocar
No Result
View All Result
Home Electric

EVs likely set for significant price spike

Words: Zane Shackleton

by Zane Shackleton
March 11, 2022
Kia confirms NZ spec for much anticipated electric EV6

Fuel prices are going up, a global semiconductor shortage is forcing manufacturers to delay new car arrivals, and it appears EVs are in for a price hike too.

Nickel prices have soared to all-time highs, a consequence of Russia’s Ukraine invasion.

Russia is the world’s third-biggest nickel producer, a critical element used in lithium-ion batteries for EV cars.

While the metal is yet to be sanctioned by Western countries, Russia’s shipments have declined dramatically as their economy takes a big hit.

Even so, Nickel demand is about to skyrocket as more and more car manufacturers focus on electrifying their fleet.

The price of nickel is climbing at a rate faster than the cost of crude oil.

Trading of the market was suspended earlier this week as the price rose by 250 per cent within 24 hours.

The London Metal Exchange has still not reopened trading.

BOOM!!! Nickel prices surge above $100,000 a tonne on a huge metal short-squeeze. The London Metal Exchange has given a unit of China Construction Bank Corp. extra time to pay $$$$ in margin calls it missed Monday. Do follow @jfarchy for more and read this https://t.co/4lO5xbW3ph pic.twitter.com/BWaJodhiGC

— Javier Blas (@JavierBlas) March 8, 2022

According to economists from the investment banking company Morgan Stanley, EV Production prices are expected to increase by US $1000 within weeks.

Brands like Tesla has already agreed to a new deal to mine for the metal in America. Currently, Tesla gets most of its nickel haul from South America.

EV prices are already on a steep incline. Rivian Automotive has had a massive surge in their R1T truck price in America, leading to a lawsuit by investors who claim they were misled about initial prices.

An R1T in America today will cost you $12,000 more than what it was only a few months ago.

Not every EV will be affected by the nickel price hike. Some use a Lithium iron phosphate (LFP) battery that doesn’t require nickel.

While cheaper, these batteries are heavier and offer less range than their Lithium-ion superiors.

Last year, Tesla started using LFP batteries in their ‘entry level’ models.

Smart move, and maybe everyone else will again be playing another round of Tesla catch-up.

Share
Previous Post

Spied: Lamborghini’s Aventador successor caught testing

Next Post

Panigale V4 SP2 – So you want a proper track bike?

ADVERTISEMENT
ADVERTISEMENT
NZ Autocar is New Zealand’s leading automotive magazine. Delivering news reviews from the automotive world, including commentary from leading automotive writers and covers the scope of motoring including new cars, classic cars, EVs and motorbikes.

Our team

Publisher: Mark Petch
General Manager: Gavin Shaw
Editor: Kyle Cassidy
Senior Editor: Peter Louisson
News Editor: Zane Shackleton
Art Director: Alex Schultz
Photographer: Tom Gasnier

To Subscribe

nzautocar.subscription.co.nz

Contact Us

Advertising:
Gavin Shaw
gavin@autocar.co.nz
.
Editorial:
Kyle Cassidy
kyle@autocar.co.nz
.
NZ Autocar
PO Box 44 304
Point Chevalier
Auckland 1246
New Zealand

Categories

  • Bikes
  • Classics
  • Commercial
  • Electric
  • Industry
  • Motorsport
  • News
  • Reviews
  • YouTube

Useful Links

Home
News
Motorsport
New Car Prices
New Bike Prices
Subscriptions
Competitions
Contact Us
Advertising
Terms and Conditions

© 2021 AUTOCAR 2016 LIMITED. ALL RIGHTS RESERVED.

No Result
View All Result
  • Home
  • News
  • Reviews
  • Electric
  • Commercial
  • Industry
  • Bikes
  • Classics
  • Motorsport
  • Prices
    • New Car Prices
    • New Bike Prices
  • Subscribe
    • Print
    • Digital
  • Contact
    • Contact
    • Advertise

© 2021 AUTOCAR 2016 LIMITED. ALL RIGHTS RESERVED.