Costly Battery Ingredients May Unplug EV Plan – Business Line

South Korea has a free-trade agreement with the United States that would likely make batteries manufactured in the North Asian nation eligible for IRA tax credits. Photo: Reuters

Surging prices of batterymaking commodities are likely to dent global hopes of increasing the production of electric vehicles (EVs) and set the clock back in meeting targets for green energy vehicles, Business Line reported.

EVs run mainly on batteries that need lithium, cobalt, manganese and nickel. Barring manganese, prices of other commodities have increased sharply since the beginning of 2022.

Read the full report: Business Line

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Sean O'Meara

Sean O'Meara is an Editor at Asia Financial. He has been a newspaper man for more than 30 years, working at local, regional and national titles in the UK as a writer, sub-editor, page designer and print editor. A football, cricket and rugby fan, he has a particular interest in sports finance.