Car Business Might Tumble if EVs Price Don’t Reduce

Prices for electric vehicles skyrocketed these days which for example Tesla Inc. increased prices by as much as RM26,000 ($6,000) per car this month, following similar hikes earlier this year from Rivian Automotive Inc. and Ford Motor Co. 

In international market, electric vehicles are getting an average price over RM 264,000 ($60,000) as Tesla, Rivian, Ford elevate their prices. 

Stellantis believes that car businesses will get severely affected if there is no price reduction towards electric vehicles. 

Meanwhile, Fiats and Peugeots makers are organizing to produce some parts in-house and pressure suppliers to cut the price of their products.

Apart from pressed by buyers demand and rising costs are charging more for EVs, automakers are raising the prices due to runaway raw-material costs, which Ford sees as a RM18 billion ($4 billion) gusty for the company this year.