Lithium is vital for the production of electric vehicles. Without it as a component of battery packs that power EVs, the vehicles would have an effective range of less than 50 miles. And while everyone is focused on gas prices going up at a tremendous rate, it’s nothing compared to how quickly lithium prices are rising.
All the while, the Biden-Harris regime continues to pressure Americans into trading in their fossil fueled vehicles for the “green” alternative. They even have the gall to gloat about how EV owners aren’t feeling the pain at the pump. But they will, especially those who want to buy new EVs because the cost of lithium has risen 472% in a year.
According to Western Journal:
One of the key ingredients in the battery packs that power EVs is lithium. This mineral is important in the production of glass, aluminum products and batteries of all sorts, especially for electric cars.
According to Mining.com, battery-grade lithium carbonate is up 95 percent thus far in 2022, and a whopping 472 percent over the course of the past 12 months.
As the soaring prices of lithium and other minerals needed to manufacture EVs soar, the costs of battery packs for EVs are seeing pressure. Already the battery pack is one of the most expensive parts of an electric vehicle, with prices ranging from $10,000 to $25,000 to replace them — and that does not include labor.
The Biden-Harris regime really, really, REALLY wants us all to abandon our gas-guzzlers and join their New World Order… I mean Green New Deal. They just hope enough Americans are gullible enough to make such a poor financial choice.