| Date: 2022-05-31According to reliable sources, lithium prices have surged approximately 500% within just a year, which in turn could hamper the rapid expansion of electric vehicles and threaten the clean air movement. Back in 2012, lithium was priced at around USD 4,450 price per tonne which now accounts for USD 78,032 as of 2022. While there is abundant lithium available in the ground, the time investment is currently a major setback for the surge in prices. The government is also likely to intervene to protect lithium supplies as major automakers would try to get hold of the lithium mining process directly to reduce costs, sources claimed. India, meanwhile, has seen a surge in demand for passenger cars that run on CNG (compressed natural gas) amidst inflating fuel prices and various turbulences in the EV segment.

Source: Hindustan Times May 31, 2022 16:30 UTC