A car battery factory in China’s eastern Jiangsu province. Cheap batteries are key to the growth and wider use of EVs. Photo: AFP
A car battery factory in China’s eastern Jiangsu province. Cheap batteries are key to the growth and wider use of EVs. Photo: AFP

BYD, NIO, Xpeng and other Chinese EV firms face slower growth, as higher metal prices push up battery costs

  • The prices of lithium carbonate, cobalt and nickel, key metals used in EV batteries, have soared this year
  • The rise in lithium carbonate alone would add an average US$470 to the cost of producing an EV battery, Suzhou Hazardtex executive says

Topic |   Electric cars
A car battery factory in China’s eastern Jiangsu province. Cheap batteries are key to the growth and wider use of EVs. Photo: AFP
A car battery factory in China’s eastern Jiangsu province. Cheap batteries are key to the growth and wider use of EVs. Photo: AFP
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