WSJ headline: Tesla, Ford and GM Raise EV Prices as Costs, Demand Grow
Subheadline: Auto makers mark up electric vehicles to offset rising battery-material costs and capitalize on the interest caused by higher gas prices
Auto makers have been raising prices on electric cars, partly to offset the soaring cost of materials used in their large batteries. Car executives also are capitalizing on strong consumer interest in EVs, as a new wave of plug-in vehicles hits the market.
In the past few months, Tesla Inc., TSLA 4.52%? Ford F 3.89%? Motor Co., General Motors Co., GM 5.55%? Rivian Automotive Inc. and Lucid Group Inc. have increased prices on certain electric models.
Last week, GM tacked on $6,250 to the price of GMC Hummer electric pickup-truck models, which now range from around $85,000 to $105,000, citing an increase in commodity and logistics costs. The waiting list for the recently released truck is about two years, a GM spokesman said.