Major cost for electric vehicle producers

Innovation News

Electric vehicle (EV) producers and suppliers could be facing a major cost headache starting this year as prices for battery-grade lithium are poised to skyrocket more than 50% within a year. Combined with the optimistic demand outlook for LFP batteries that typically feed on lithium carbonate, the supply tightness for lithium salts is expected to keep lithium carbonate prices high and support a notable premium over the price for lithium hydroxide in early 2022.

Betting everything on battery-powered electric cars is a risky choice from an economic point of view and the environmental impact. The use of batteries in the automotive sector is only one of the possible solutions, certainly valid for urban or short-range travel. On the opposite, the automotive industry must push towards alternatives to accumulators. Hydrogen is the most promising energy source and MIEEG srl is developing for Mazzanti Automobili the hybrid part of the new powertrain that will power the new hypercar of the artisanal Tuscan manufacturer.