Lithium shortage could put brakes on electric car revolution

04, May 2022

Media reports suggest that a global shortage of lithium, a crucial component of electric vehicle batteries, has pushed prices to record levels, threatening to put the brakes on affordable all-electric cars.

According to Forbes, there are plenty of lithium reserves around the world to make the batteries needed to support the renewable energy transition. The challenge, however, is in developing those reserves and getting them to market fast enough to meet demand, which is growing annually at more than 15%.

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