“Thanks for the EV negativity’: How the gloom could cut new car prices

Car companies are not loving the negativity around consumer demand for electric vehicles right now.

However it does have one major advantage – pushing down prices of the materials needed to make them.

Which, as Stellantis CEO Carlos Tavares pointed out recently, helps his company nicely. “Many people are talking about the slowdown on the BEV demand, which has had a huge impact on the raw material cost,” he said. “That is helping us to reduce the total production cost on BEVs faster than the ICE [internal combustion engine].”

Lower raw materials will help make EVs more affordable, solving one of the main pain points in the switch away from fossil fuels.