Lithium Is Key to the Electric Vehicle Transition. It’s Also in Short Supply

Payne Institute Director Morgan Bazilian contributes to this article about how the element lithium, a lightweight substance, is a critical component in rechargeable lithium-ion batteries, which are used in most personal electronics and electric vehicles. And in the last year, it’s gotten expensive.  Lithium has shot up 432% year over year, hitting nearly $62,000 per metric ton in April.  The price spike is due to the booming electric vehicle market, which is putting demand pressure on battery producers, which in turn puts demand pressure on the minerals suppliers.  May 26, 2022.