What is Causing the Shortage of Lithium-ion Batteries?
As reported by Reuters and other news agencies around the world, there is a global shortage of lithium-ion batteries, as demand for electric vehicles has surged in recent times. There is a shortage of lithium - the metal that is the core ingredient of li-ion batteries - and countries are seeking to increase their supplies and compete with China’s mining capabilities. Given the shortage in lithium, reports suggest that it could cause a 22% spike in the cost of...