Future of electric vehicles threatened by rising energy prices, claims report

Berlin, Soaring energy costs are threatening the future of the electric car, industry bosses in Germany have warned, media reports said.

A rise in electricity prices as well as in raw material costs and availability, a chronic shortage of parts, and a widespread reduction in disposable income are having a considerable impact on the production and sales of cars, The Guardian reported.

If the trend continues, there is also concern that there will be a knock-on effect on investors who will lack incentives to build charging facilities, making electric cars less attractive because they will be more impractical to run, it said.