On the 30th, a report was published on the website of the Nikkei Business News, "Rising battery raw material prices drive up the cost of electric vehicles." The abstract of the article is as follows:

Electric vehicles are facing a wave of price hikes. The price of nickel, one of the main raw materials for making car batteries, has more than doubled from last year, and prices such as lithium metal have continued to rise. High prices and insufficient supply could be barriers to EV adoption.

Tesla CEO Elon Musk said in a tweet on the 13th: "Raw materials and logistics are facing huge inflationary pressure." In mid-March, Tesla raised the price of all its models in the United States by 4%. By 10%, other major markets, including Japan, also saw price increases.

The main reason for the price volatility is the high prices of metals such as nickel and lithium, which are raw materials for batteries. One-third of the manufacturing cost of electric vehicles is occupied by batteries, and the increase in the price of raw materials will inevitably lead to a rise in the price of the whole vehicle.

The rise in nickel prices is of particular concern. Russia supplies about 10 percent of the world's nickel, and its share of the high-purity nickel market for batteries exceeds 20 percent. The price of nickel futures on the London Metal Exchange reached $55,000 a ton on March 7. As of the 24th, the nickel price remained above $30,000, more than twice that of last year, and continued to hover at a high level.

The price hikes are not limited to nickel. Prices of lithium, mainly produced in Australia and South America, are also skyrocketing. The rapid growth of electric vehicle sales has directly led to the expansion of the demand for related resources