Battery manufacturers did not anticipate the scale of EV demand and panic-bought lithium supplies once they received orders from automakers, driving lithium prices to $80,000 per ton in the 2021-2022 spike, with each EV battery requiring 50-80 kg of lithium.
causalpending
Speaker
Francis McDonaldEvidence Quote
“the battery manufacturers were getting order ERS from car producers and so BMW calls up the battery manufacturer and says I need a million battery cells and the the battery producer says yep sure we'll get on that and then they get off the phone they turn around and they're like well we don't have any of the raw materials to do this so they started just buying up every unit of of lithium that they could get their hands on and that's why the price Rose so much”
Source
100% Price Surge: Will Supply Crunch Of This Critical Asset Trigger Massive Inflation?— David LinCreated: 8/11/2026, 1:29:24 AM
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