The rising cost of raw materials needed for batteries such as lithium and nickel has prompted cell suppliers to push up prices to car makers, which are then passing on costs to buyers.
The price of nickel hit the headlines in early March when prices quoted on the London Metal Exchange (LME) surged to over $100,000 a ton on fears over Russian supply and the consequences of the war in Ukraine, but have since dropped back to around $33,000.
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