The 3 key takeaways
- Lithium prices are falling due to oversupply of the mineral as producers ramp up production to meet the demand for electric vehicle batteries.
- The demand for electric vehicles has not grown as quickly as expected, partly due to supply chain constraints and the high cost of EVs.
- This drop in lithium prices is putting pressure on mining companies to cut costs and improve efficiencies to remain profitable.
Source: https://www.nytimes.com/2023/03/20/business/lithium-prices-falling-electric-vehicles.html