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Electric Vehicle Sales Surge Despite Rising Costs

Updated: Jul 11, 2022

An analysis column published on Reuters last week covered the continued global rise in electric vehicle sales despite increasing battery costs. Worldwide EV sales during Q1 of 2022 rose by nearly 120%, according to estimates by China’s Nio, Xpeng and Li Auto broke EV sales records in March, while Tesla sold a record 310,000 EVs in the first quarter. These sales have not been deterred by lithium-ion battery cells prices jumping from $105 per kilowatt-hour to $160 in just a year. The simultaneous rise in gasoline and diesel prices since Russia’s invasion of Ukraine have likely contributed to consumer adoption, in addition to the environmental concerns that motivate many EV buyers.

Rising EV adoption is a sign that more consumers all over the world are taking energy efficiency and sustainability seriously. If you’re a private or public building owner, utility, or government agency that wants to lessen your carbon footprint and make the most of your energy resources, contact 360 Energy Group at


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