Electric Vehicles Global sales of new energy vehicles (battery, hybrid and fuel cell) accelerated in 2020, despite the d

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Electric Vehicles Global sales of new energy vehicles (battery,hybrid and fuel cell) accelerated in 2020, despite the decrease innew vehicle sales due to the pandemic. MASTER OF BUSINESSADMINISTRATION – ACADEMIC AND ASSESSMENT CALENDAR - DISTANCE REGENTBUSINESS SCHOOL (RBS)- JANUARY 2022 63 The number of electricvehicles in South Africa is small, although studies indicate theimportance of local vehicle manufacturers moving away fromcombustion engine vehicles to ensure the industry's long-termsustainability. Electric vehicles are expensive and there is alimited charging infrastructure. Import tariffs are a significantinhibitor for investment in electronic vehicle manufacturing.Stationary Energy Storage In South Africa, the energy storagemarket continues to grow, as new independent power producerprojects come on stream and as load-shedding continues.Loadshedding is driving demand for back-up power and uninterruptedpower supply applications, particularly in commercial, industrialand agricultural applications where the costs of energy insecurityare high. (Source:https://www.businesswire.com/news/home/ ... arkets.com)1.1 Taking the article into consideration, explain what is likelyto happen to prices of batteries due to the aforementioned changesin demand and/or supply.