Looks like Joe Biden’s “Go Electric” campaign might come to an inflationary crashing halt before it even takes off.
Automakers such as Tesla and Cadillac are raising electric vehicle prices in response to rising commodity costs like key materials needed for EV batteries.
At the end of the day it’s simple economics. When you tell the entire country to go electric at the same time, you’re bound to put pressure on commodity prices due to supply and demand.
According to CNBC, projections show a sharp increase in demand for battery minerals over the next four years that could push the price of EV battery cells up by more than 20 percent.
The price hike comes as Democrats continue to pressure Americans who are concerned with skyrocketing fuel prices to purchase electric vehicles.
Harris said: “Imagine a future, where the freight trucks that deliver bread and milk to our grocery store shelves and the buses that take children to school and to work, imagine all the heavy-duty vehicles that keep our supply lines strong and allow our economy to grow, imagine that they produced zero emissions.”
How about we imagine who’s going to pay for all of this? The money’s got to come from somewhere Harris, and if it’s not from buying cars, who’s going to fund this “go electric” project?
According to an article written by The Post Millennial, the cheapest version of Tesla’s most affordable vehicle, the Model 3, now starts at $46,990 in the US, up 23 percent from $38,190 in February 2021.
Rivian, another American automobile manufacturer specializing in electric vehicles, announced in March that prices for their R1T pickup and R1S SUV would increase in prices effective immediately.
The RT1 jumped 18 percent to $79,500, with the R1S jumping 21 percent to $84,500.
The Cadillac Lyriq crossover EV rose in price by $3,000 on Monday to $62,990.
And to make matters even worse, Biden’s Climate Czar John Kerry has said “we’re only gonna have electric vehicles if we meet our goal by 2035.” As if this statement alone isn’t going to send prices through the roof…
Americans are gravely concerned with how fast Joe Biden and the Democrats are pushing the country to go electric, but has anyone stopped to think about the electric grid and if it’s ready for such a drastic change?
With rolling blackouts in states like California and Texas, how on earth are we going to keep hundreds of thousands of cars running without overloading the power grids?