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.
