Lithium Prices Surge to Record High, Threatening to Push Up Expensive EV Costs Even Higher

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The price of lithium carbonate, the key material used to make electric car batteries, has continued to skyrocket, tripling in the past year.

The valuable mineral is mainly processed in communist China, which has a monopoly on the battery market.

Lithium carbonate prices in China hit $71,315 a ton on Sept. 16, according to data from Asian Metal Inc.

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