Prices of Electric vehicles can be increased because of THIS reason

The demand for electric vehicles is increasing all over the world including India and people are buying cheap and expensive electric cars, electric scooters and electric motorcycles indiscriminately.

Prices of Electric vehicles can be increased because of THIS reason
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New Delhi: The demand for electric vehicles is increasing all over the world including India and people are buying cheap and expensive electric cars, electric scooters and electric motorcycles indiscriminately. But in the midst of all this, a bad news is also about to come that the prices of electric vehicles may increase in the coming days, due to which the demand for lithium-ion batteries is increasing along with the prices. In such a situation, it is believed that by this year or next year, the prices of electric vehicles can be increased across the world including India.


Electric cars will become more expensive

Those who are planning to buy an electric car in the coming time, if they buy electric vehicles in the coming time, then it may be more burden on their pocket. However, mid-range and premium electric car companies including Tata Motors, Hyundai, MG Motor India have not given any indication about the electric vehicle price hike. Although last year the Union Minister for Road Transport and Highways Nitin Gadkari has said that soon the prices of electric vehicles will also be like petrol and diesel variants, but nothing can be said about when this will happen.


Battery cost is going up

Let us tell you that UK-based data analytics and consulting firm Global Data said in the Thematic Research: Electric vehicle batteries (2021) report last year that the biggest challenge facing the expansion of the electric vehicle segment in the coming times is that lithium-ion batteries. Prices do not increase. However, it has also been said that the price of lithium-ion batteries may increase by 40 percent by the year 2024, so the prices of electric vehicles are definitely going to increase in the coming times. Meanwhile, electric cars of other companies including Tata Nexon EV, Tata Tigor EV, MG ZS EV, Hyundai Kona as well as Audi, BMW are selling a lot in India.

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