The attack on Ukraine by Russia has created a crunch for the electric vehicle industry. The war has led to a sudden spike in gasoline prices just as electric car makers are looking to fulfill their inventory of greener vehicles. Within the last two weeks, Tesla has received approval to set up a battery factory in Germany while Honda, Ford and Stellantis have announced that they are increasing their rates of electric vehicle production.
The skyrocketing oil price is the highest it has been in the last 14 years. The surge is expected to drive consumer interest in favor of…
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