Supply Chain Shortages Rise Amid Green Vehicles Demand

The price of batteries for electric vehicles is expected to surge in 2022, undermining technological and efficiency gains.

A wave of automakers is transitioning towards electric vehicles (EV). Tesla manufactured almost one million cars last year. While several new electric vehicle companies such as Lucid and Rivian are introducing new models. This inevitable transition is creating a supply problem.

Lithium-ion batteries are a critical element in all battery-based technologies because they constitute an essential component of EVs. The price of lithium has been soaring up to 280% since Jan. 2021. It is safe to say that the modern-day version of oil security is the domestic supply and control of lithium.

Based on Benchmark Mineral Intelligence, EV growth will be responsible for over...

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