It's no secret that the automotive industry is having a really bad time with its supply chain right now. The miserable chip shortage is set to continue in 2022 as automakers around the globe ramp up electrification. And now—the threat of a shortage of battery metals is beginning to materialize. This might come as a surprise given the news at the end of last year, when battery storage prices had fallen to their lowest ever point, hitting $118 per kWh in EV packs, according to Bloomberg. That's a major reduction from $1,200 per kWh in 2010. A lot of that is down to manufacturing ramping up; the more facilities open up and the more efficient processes get, the lower the costs. The more efficiently these materials can be processed, the faster the industry goes through raw inventory. This, combined with low prices caused a shortage, and eventually a price increase.
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