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Industrial News: Electric vehicle demand leads to lithium price surge

2022-12-01

Lithium carbonate prices have surged in China as demand for electric vehicles ramps up. The price of lithium carbonate has reached 500,500 yuan, roughly $71,000, according to Trading Economics.

China is one of the top countries in terms of lithium carbonate production, trailing only Australia and Chile in terms of mine production in 2021. The surge is largely due to an increase in electric car sales in China and the U.S. as both governments have added financial incentives to purchase one. Lithium is one of the key components of batteries within electric vehicles.

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