EV Cost Path Threatened by Expensive Metals

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Escalating prices of battery metals such as lithium and nickel have stunted the path of falling battery costs, likely delaying the tipping point for cost parity between electric vehicles (EVs) and conventional oil-fueled automobiles. Although average battery prices continued falling over 2021, costs have in fact been on the rise during the second half of last year as a result of metal price spikes. This has prompted some analysts to push back the timeline for when EVs would cost no more than gasoline or diesel vehicles to 2026 — two to three years later than earlier forecasts. Such expectations of delays came even before the Russia-Ukraine crisis spooked the nickel market and added to the uncertainties facing EVs.

Electric Vehicles, Mobility, Emerging Technologies
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