Cost of Electric Vehicle Batteries May Increase 15% Amid Supply Chain Disruptions: Report

By Katabella Roberts | 24 May 2022

THE EPOCH TIMES — The cost of electric vehicle batteries is set to soar amid the ongoing Russia–Ukraine conflict and supply chain disruptions, the International Energy Agency (IEA) warned on Monday.

While electric vehicle sales have remained strong so far this year with 2 million electric cars sold worldwide in the first quarter, IEA said that further efforts to diversify battery manufacturing and critical mineral supplies are needed to reduce the risks of bottlenecks and increased prices going forward.

A growing number of countries and carmakers across the globe have set out ambitious vehicle electrification targets for the coming decades amid a push to address climate change.

However, IEA warned that soaring prices for some critical minerals essential for battery manufacturing, supply chain disruptions in the wake of the COVID-19 pandemic lockdowns in China, and Russia’s invasion of Ukraine remain the greatest obstacles to strong electric vehicle sales.

The biggest battery manufacturer in the world is China and more than half of all lithium, cobalt, and graphite processing and refining capacity is located in China. […]

2 Comments on Cost of Electric Vehicle Batteries May Increase 15% Amid Supply Chain Disruptions: Report

  1. Yup.

    And Gavinor Nuisance and his Califraud Public Utilities Service Commission are now signing Bills to charge California Tax Payers/Home Owners who use Solar Panels for Energy Conservation a $300-$600 or more Annual Tax, if we don’t use enough electricity to feed SoCal Edison and other Electric Companies, and/or Gavinor Nuisance’s Shylocks.

    Its Hybred CCP Communism/Boston Mob-Organized Crime-style-Management being forced upon US American/California Citizens. Just Sick. Its way over time to start thinking of getting out of here, since Gavin Nunez left and Kevin McCarthy has, behind the scenes, quietly buddied-up with Liz Cheney’s War Machine.

    Though, there’s still a lot of good people here, we’re being replaced by illegals and souring crime. So, there’s really nothing left here in California to stay for anymore.

  2. Between JOETUS’ immoral (Bad Faith) closure of Keystone to his pre-planned illegal contracts to the Ukraine and Russia to replace Keystone (which incited/pitted those 2 Nations against each other and started a War/Liz Cheney’s Expertise), we really do have a Millionaires-Club Organized Crime Family running our Country since January 2021 to-date.

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