A piece by Davis Ferris highlights the importance of prices for EV manufacturers and how a trade war jeopardizes the industry. From higher tariffs on parts to critical minerals and other raw materials facing climbing duties or other shortages, the onset of all these issues within the electric vehicle industry brings nothing but chaos to manufacturers and consumers alike. The only certainty seems to be uncertainty as even batteries, a key component of EVs, struggle to source its crucial ingredients as escalations with China have brought about halts within trade of said materials. While some EV manufacturers have opened plants in the U.S., the upwards pressure on prices appears to far outweigh the benefits of domestic production. The price gap is widening between electric vehicles and traditional automobiles, with the latter having a century to establish more efficient production. In addition to industry-wide woes for EV manufacturers and customers, the general automobile market within the United States is forecast to have a decrease of more than half a million car sales this year. Join Davis Ferris as they write about the detailed ins and outs of the troubles electric vehicles are now facing.
Photo: Michael Movchin / Felix Müller via Wikimedia Commons
