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Al Jazeera
Al Jazeera
Environment
Ian Neubauer

‘Insane’ lithium price bump threatens EV fix for climate change

lithium Climate Change Elon Musk Al Jazeera Tesla Inc.
Soaring lithium prices are raising questions about the future affordability of electric vehicles, which are considered a key innovation in the fight against climate change [File: Noriko Hayashi/Bloomberg]

Lithium, the highly reactive silver-white metal that is a crucial ingredient in batteries used in electric vehicles (EVs), is becoming much more expensive – and fast.

In April, as prices hit a record $78,000 a tonne, Tesla CEO Elon Musk floated the idea of the electric carmaker mining and refining the lightweight metal itself due to the “insane” increase in costs.

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