The rise in lithium carbonate prices could increase production costs of lithium-iron phosphate (LFP) battery cells by at least 16%, Benchmark Mineral Intelligence analysis shows, adding further pressure to electric vehicle (EV) makers next year.
Benchmark’s Chinese battery-grade lithium carbonate prices have risen by 346% this year, as sales of EVs in China have almost doubled from a year earlier and mined supply has struggled to keep pace.
Automakers globally are bracing for the price hit on LFP cells - also known as iron-based batteries. The rise in lithium prices comes amid rising costs for other battery . . .