'Gone ballistic': lithium price rockets nearly 500% in a year amid electric vehicle rush

Labour shortages at West Australian mines contribute to rise but some analysts urge caution to investors Download the free Guardian app; get our morning email briefing Lithium prices have "gone ballistic" as surging electric vehicles sales worldwide create massive demand for the critical component of lithium-ion batteries. According to figures from Benchmark Mineral Intelligence (BMI), the price of the lithium-rich raw material spodumene rose 478.3% between January 2021 and January 2022.