Electric vehicle affordability is poised to hit a speed hump on its journey down the cost curve, as global demand for battery-grade lithium starts to outstrip supply, driving up prices of the key ingredient in both the clean transport and clean energy transitions. After a decade of price declines, costs of battery-grade lithium are “poised to skyrocket,” according to research from Rystad Energy, posing the threat of a “major cost headache” for electric vehicle makers, just as the market really starts to hit its straps.
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