Lithium Inflation May Slow the Switch to Electric Vehicles

Lithium — a mineral that is key for electric car batteries — continues to rise in price, jeopardizing the ongoing transition to renewable energy outlined by Western governments.

The cost of lithium has skyrocketed more than 250% over the last 12 months, hitting its highest level ever, according to an industry index from Benchmark Mineral Intelligence. While the cost of manufacturing a lithium-ion battery for an electric vehicle (EV) has fallen sharply over the last decade, the decline has slowed in recent months due to rising lithium costs.

An electric car charging in California

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