Wall Street

EVs Are in High Demand. But There Is a Big Problem (The Battery)

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The Street

By Rob Lenihan Consumers’ desire to escape spiraling gas prices switching to electric vehicles are running into some serious headwinds. This isn’t going according to plan. The average gallon of gas in the U.S. hit a high of $4.59 this week, about 51% higher than a year ago, according to data from the AAA. Not surprisingly, people are looking to the electric vehicle as a way of staunching the flow of cash from their wallets. Plugging InThe numbers have been encouraging. Electric vehicle sales in the United States surged to a record high of over 200,000 vehicles during the first quarter. A new s…

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