Joe Biden’s Electric Vehicle Push Hits Roadblock as Prices SoarSimon Kent 28 Jun 2022
The Biden administration’s push to get more people driving an electric vehicle (EV) has hit a roadblock: EV prices have surged from a year ago, data released Monday shows.
The average sticker price for an EV in the United States in May was up 22 percent from a year ago, to about $54,000, according to research from data and analytics firm J.D. Power, cited by the Wall Street Journal.
UPI points out the average price for an internal-combustion vehicle rose 14 percent over the same period to close on $44,400.
Automakers have ramped prices to capitalize on new interest fueled by surging gas prices and offset the soaring cost of raw materials like nickel, cobalt and lithium for their large batteries due to supply chain issues, according to the WSJ.
The price leap follows President Joe Biden’s call back in March for Americans to purchase an electric car to escape high gas prices, promising to “double down” on his pursuit of green energy.
more
https://www.breitbart.com/politics/2022/06/28/joe-bidens-electric-vehicle-push-hits-roadblock-as-prices-soar/
