This year, people around the world are lining up to buy electric vehicles even as prices increase. Electric vehicle, EV, demand has stayed strong even as the average cost of lithium-ion battery cells increased to an estimated $160 per kilowatt-hour in the first quarter from $105 last year. Costs rose due to supply issues, sanctions on Russian metals and investor speculation. For a smaller vehicle like the Hongguang Mini, the best-selling EV in China, the higher battery costs added almost $1,500, equal to 30 percent of the listed price. But gasoline and diesel fuel costs have also increased since Russia invaded Ukraine, and experts noted that environmental concerns also are pushing more buyers to choose EVs. Manufacturers from Tesla to SAIC-GM-Wuling, which makes the Hongguang Mini, have passed higher costs on to consumers with price increases for EVs. More may be coming. Andy Palmer, chairman of Slovak EV battery maker InoBat, said "rising costs will have to be passed onto carmakers." But EV shoppers have so far not slowed down. Worldwide EV sales in the first quarter jumped nearly 120 percent, said the website EV-volumes.com.
Title: Electric Vehicle Sales Increase Even with High Battery Prices
Content: <div id='article-page'><div id='article-content' data-media-url='//news-app-staging.s3.amazonaws.com' data-base-url='//news-app-staging.herokuapp.com' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/5519/A.wav' data-capture-url='//staging.analytics.lingraphica.com/events/capture_news' data-article-title='Electric Vehicle Sales Increase Even with High Battery Prices' data-article-id='6082'><script src='//news-app-staging.herokuapp.com/javascripts/getscripts.js'></script><link rel='stylesheet' href='//news-app-staging.herokuapp.com/stylesheets/article.css' type='text/css' /><div class='article'><p><span data-start-time='0' data-end-time='8438'>This year, people around the world are lining up to buy electric vehicles even as prices increase.</span> <span data-start-time='8438' data-end-time='29396'>Electric vehicle, EV, demand has stayed strong even as the average cost of lithium-ion battery cells increased to an estimated $160 per kilowatt-hour in the first quarter from $105 last year. </span> <span data-start-time='29396' data-end-time='38354'>Costs rose due to supply issues, sanctions on Russian metals and investor speculation.</span> <span data-start-time='38354' data-end-time='55042'>For a smaller vehicle like the Hongguang Mini, the best-selling EV in China, the higher battery costs added almost $1,500, equal to 30 percent of the listed price.</span> <span data-start-time='55042' data-end-time='70417'>But gasoline and diesel fuel costs have also increased since Russia invaded Ukraine, and experts noted that environmental concerns also are pushing more buyers to choose EVs.</span> <span data-start-time='70417' data-end-time='86021'>Manufacturers from Tesla to SAIC-GM-Wuling, which makes the Hongguang Mini, have passed higher costs on to consumers with price increases for EVs.</span> <span data-start-time='86021' data-end-time='88375'>More may be coming. </span> <span data-start-time='88375' data-end-time='98979'>Andy Palmer, chairman of Slovak EV battery maker InoBat, said "rising costs will have to be passed onto carmakers."</span> <span data-start-time='98979' data-end-time='103021'>But EV shoppers have so far not slowed down. </span> <span data-start-time='103021' data-end-time='113500'>Worldwide EV sales in the first quarter jumped nearly 120 percent, said the website EV-volumes.com.</span> </p></div><div class='control-buttons-sticky' style='display:none;'><div class='control-buttons'><button title='Back' class='back' disabled='disabled'></button><button title='Play' class='play' disabled='disabled'></button><button title='Pause' class='pause' style='display:none;'></button><button title='Forward' class='forward' disabled='disabled'></button><button class='finished-reading' style='display:none;'>Done</button></div></div></div><div id='article-media'><div id='media-image'><img src='https://news-app-production.s3.amazonaws.com/articles/5519/A.jpeg'/></div></div><div id='question-content' style='display:none;'><div class='vocabulary_question question-container' data-question-id=18548 data-hint-location='29396' style='display:none;'><div class='question' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/5519/which_of_the_following_is_a_definition_of_the_word_specualtion.wav'>Which of the following is a definition of the word specualtion?</div><div class='choices' data-correct-choice='investment in stocks, property, or other ventures in the hope of gain but with the risk of loss'><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/5519/investment_in_stocks_property_or_other_ventures_in_the_hope_of_gain_but_with_the_risk_of_loss.wav'><span>investment in stocks, property, or other ventures in the hope of gain but with the risk of loss</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/5519/relating_to_sight_especially_in_relation_to_the_physical_action_of_light.wav'><span>relating to sight, especially in relation to the physical action of light</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/5519/the_process_of_concentrating_on_and_becoming_expert_in_a_particular_subject_or_skill.wav'><span>the process of concentrating on and becoming expert in a particular subject or skill</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/5519/used_humorously_to_refer_to_people_who_share_a_characteristic_or_occupation.wav'><span>used humorously to refer to people who share a characteristic or occupation</span></div></div></div><div class='multiple_choice_question question-container' data-question-id=18549 data-hint-location='8438' style='display:none;'><div class='question' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/5519/what_is_ev_short_for.wav'>What is EV short for?</div><div class='choices' data-correct-choice='electric vehicle'><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/5519/electric_vehicle.wav'><span>electric vehicle</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/5519/energy_value.wav'><span>energy value</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/5519/eclectic_vegan.wav'><span>eclectic vegan</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/5519/elbow_vine.wav'><span>elbow vine</span></div></div></div><div class='sentence_completion_question question-container' data-question-id=18550 data-hint-location='55042' style='display:none;'><div class='question' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/5519/but_gasoline_and_diesel__blank__costs_have_also_increased_since_russia_invaded_ukraine_and_experts_noted_that_environmental_concerns_also_are_pushing_more_buyers_to_choose_evs.wav'>But gasoline and diesel <span class='blank'>fuel</span> costs have also increased since Russia invaded Ukraine, and experts noted that environmental concerns also are pushing more buyers to choose EVs.</div><div class='choices' data-correct-choice='fuel'><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/5519/fuel.wav'><span>fuel</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/5519/fool.wav'><span>fool</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/5519/food.wav'><span>food</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/5519/feud.wav'><span>feud</span></div></div></div><div class='question-buttons'><button class='skip-button'></button><button class='hint-button'></button><button class='speak-button'></button></div></div></div>
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