Elon Musk's dream of cheaper electric cars dashed by Ukraine- Russia war: Report
Image Credit: Shortpedia
Elon Musk and other auto executives' plans to introduce more affordable electric vehicles could be set back by rising raw material costs, caused by Russia's invasion of Ukraine. According to Gregory Miller, an analyst at industry forecaster Benchmark Mineral Intelligence, rising prices for nickel, lithium, and other EV parts could slow and even reverse the long-term trend of falling costs for batteries, the most expensive part of the cars.