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Lithium shortages impact Tesla, other EV carmakers, numerous tech markets
As gas prices drive demand for electric vehicles, supply chain issues remain
Park West Mobility Service hasn’t seen this much demand for electric vehicles in at least five years. Fuel prices going up is driving the market for electric vehicles.
Electric vehicles (EVs) have been growing in popularity amid climate initiatives to reduce carbon emissions, yet production is being hampered by a shortage of lithium, an essential element for making electric batteries.
The lithium shortage problem was highlighted at this year’s Austin Auto Show. Many of the electric vehicles on display, such as the Ford F-150, have thousands of orders already – despite not being out yet.
In a recent interview, lithium and mining expert Joe Lowry told Bloomberg that a gap will continue to grow between supply and demand over the next two years.
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