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EV Batteries: The Next Victim of High Commodity Prices? Source: By Jacky Wong, Wall Street Journal • Posted: Thursday, July 22, 2021
Batteries have gotten a lot cheaper due to economies of scale, but rising commodity prices could upend that trend
Companies such as China’s Contemporary Amperex Technology may have better bargaining power with auto makers. Photo: jake spring/Reuters
Ever-cheaper batteries over the past decade have made electric vehicles more price-competitive. But rising demand for EVs could now disrupt that trend. The race to secure key materials will become more crucial.
Prices of battery materials have skyrocketed this year as EV demand jumps. Prices of lithium carbonate, used in cathodes, have doubled year-to-date, according to research firm Benchmark Mineral Intelligence. Prices for cobalt hydroxide, which boosts energy density and battery life, have risen more than 40%.
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