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

Lithium Prices Surge to Record High, Threatening to Push Up Expensive EV Costs Even Higher
Workers at a factory for Xinwangda Electric Vehicle Battery Co. Ltd., which makes lithium batteries for electric cars and other uses, in Nanjing in China's eastern Jiangsu Province, on March 12, 2021. STR/AFP via Getty Images
Bryan Jung
Updated:
0:00

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.

Bryan Jung
Bryan Jung
Author
Bryan S. Jung is a native and resident of New York City with a background in politics and the legal industry. He graduated from Binghamton University.
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