EVs, home appliances likely to become pricier as copper price soars
Telecom, infrastructure, construction and agriculture may also bear the brunt, while solar makers and data centres shift to aluminium
Electric vehicles (EVs) and home appliances may see price increases due to a surge in copper prices. Copper, a key raw material, has risen above $14,000 per tonne. The impact will be felt across industries including automobiles, electronics, telecom, infrastructure, construction, and agriculture. Manufacturers are facing a dilemma on how to handle the cost increase and whether to pass it on to consumers.
Some companies are already planning to increase prices by 7-12 percent. Electric cars require more copper compared to their internal combustion engine counterparts, and buses can need up to 300 kg of copper. Copper sulphate, used in controlling fruit rot disease in agriculture, has increased over six times in price. The rise in copper prices could also impact the availability and cost of copper sulphate, affecting crop yields.
EV manufacturers face challenges in eliminating copper as it is critical for components such as printed circuit boards, power supplies, transformers, connectors, and cabling.
Written by urgent.news from Hindu BusinessLine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
