Electric vehicle prices continue to creep upwards. The Union Group, the importer of GEELY’s electric vehicles, raised the price of the popular electric model Geometric C by about 2.5% today (Monday).
The long-range version with 460 km, which now costs about NIS 160,000 compared to NIS 155,000 before. It should be noted that the original entry price of this model in November 2021 was NIS 145,000. Since then there have been several rounds of price increases. The current price increase is due to the sharp increase in the dollar exchange rate and A sharp rise in sea freight prices.
It should be noted that the price increase is actually theoretical because almost all cars of this model that are expected to arrive in Israel during the year have already been sold months in advance and the prices for 2023 will be dictated by the tax increase on electric vehicles, which is expected in January unless it is canceled at the last minute. The industry estimates that in the coming months more price increases are expected for electric vehicle manufacturers due to the sharp increase recorded in recent months in the prices of raw lithium for batteries.