Hyperdrive
Electric-Vehicle Push Bumps Up Against Chaos in Nickel Market
- Surging nickel prices threaten to put a dent in EV ambitions
- Miner caught in squeeze may offer way to ease supply crunch
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A global push among automakers to expand their lineups of electric vehicles just got a lot more expensive.
Surging nickel prices threaten to put a dent in the auto industry’s EV ambitions, with the key battery metal caught up in war-induced supply worries and a short squeeze that’s sent prices to unprecedented highs. While analysts say prices will subside from current stratospheric levels, the bad news is that they could remain elevated and add hundreds of dollars in costs.