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The Stuff That Goes Into Making a Battery For Electric Vehicles is Getting a Lot More Expensive

Image by Nerijus jakimavičius from Pixabay

Prices for the key commodities needed to produce electric vehicle batteries have been rallying all year on stronger demand for new energy vehicles. They spiked in recent days, following the U.S.-led summit on climate change that took place online last week.

Spot prices for lithium, copper, and palladium, and various other minerals and metals are all up. Although cobalt prices have steadily gone up over the past six months, analysts expect prices to fall in the months ahead as supply-chain bottlenecks ease.

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