EVs Hit a Speedbump
A shortage of battery metals slows down EV growth … EVs remain “the future,” but the present is oil and gas … why aren’t there new refineries coming online today? Global growth of electric vehicles is hitting a snag. Legendary investor Louis Navellier just experienced this when he tried to purchase a new Audi electric vehicle, yet was told by his local dealer that they’re not taking new orders for the e-tron GT. And why not? It has to do with something we’ve highlighted before here in the Digest : the shortage of key battery metals. Let’s jump to Louis’ recent issue of Market 360 for more: The lithium-ion battery shortage is now becoming increasingly obvious as companies struggle to cope with high lithium, nickel and cobalt prices, which threatens to postpone the electric vehicle revolution. According to Benchmark, raw materials now account for 80% of the cost of a lithium-ion battery, up from 40% in 2015. Specifically, Benchmark noted that materials for the battery cathode, such as lithium, cobalt and nickel, have collectively gained about 150% in the past year, including 25% to 30% in the past month!
EVs Hit a Speedbump
A shortage of battery metals slows down EV growth … EVs remain “the future,” but the present is oil and gas … why aren’t there new refineries coming online today? Global growth of electric vehicles is hitting a snag. Legendary investor Louis Navellier just experienced this when he tried to purchase a new Audi electric vehicle, yet was told by his local dealer that they’re not taking new orders for the e-tron GT. And why not? It has to do with something we’ve highlighted before here in the Digest : the shortage of key battery metals. Let’s jump to Louis’ recent issue of Market 360 for more: The lithium-ion battery shortage is now becoming increasingly obvious as companies struggle to cope with high lithium, nickel and cobalt prices, which threatens to postpone the electric vehicle revolution. According to Benchmark, raw materials now account for 80% of the cost of a lithium-ion battery, up from 40% in 2015. Specifically, Benchmark noted that materials for the battery cathode, such as lithium, cobalt and nickel, have collectively gained about 150% in the past year, including 25% to 30% in the past month!