Electric cars have increased the cost of lithium deficiency

Demand for electric vehicles is growing rapidly, but a deterrent is shortage of lithium – material critical to electrical batteries vehicles.

Sales of electric cars worldwide are expected to increase by 90% this year compared to last year and to exceed 6 million units. Sales in the three largest markets – the US, EU and China – will increase by 150-200%, notes Digitimes

However, while the production of batteries is still below the capacity of enterprises, their supply lags behind the needs of car manufacturers. Battery material suppliers typically take one to two years to expand their production capacity, and about $ 110 million in capital costs per GWh of battery capacity.

investment of time and capital requires careful planning, which is why suppliers of materials for batteries are in no hurry to expand production with a view to overcapacity from 2018. In the meantime, due to the depletion of stocks this year, the price of battery materials has risen.

From January to September, the price of lithium carbonate increased by 171%, of lithium hydroxide – by 173%, and of lithium hexafluorophosphate – by 273%. Other materials also rose in price, albeit to a lesser extent – cobalt by 34% and nickel by 21% .

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