Lithium Prices Surge to Record High, Threatening to Push Up Expensive EV Costs Even Higher

The price of lithium carbonate, the key material used to make electric car batteries, has continued to skyrocket, tripling in the past year.
The valuable mineral is mainly processed in communist China, which has a monopoly on the battery market.
Lithium carbonate prices in China hit $71,315 a ton on Sept. 16, according to data from Asian Metal Inc.
This has caused a rise in the cost of lithium batteries, which has been increasing due to strong demand and lockdown disruptions at China’s main production hubs.
However, the current price hikes for the strategic mineral are likely to raise inflation concerns and add more cost expenditures to the supply chain….