Russia’s invasion of Ukraine threatens to increase costs for Europe’s vehicle industry, which is already struggling with record high lithium prices and a shortage of semiconductor chips.
Prices for nickel, a key battery material, rose to their highest levels since 2011 this week following President Vladimir Putin’s decision to send troops into Ukraine. Oil prices rose to a seven-year high above $100 a barrel, while palladium, used in catalytic converters, also hit a seven-month high.
While US, Japanese and . . .