After the Great Chip Crisis, the Lithium Crisis is on the Horizon

The supply crisis of lithium, which is used in the batteries of technological devices such as phones, tablets and computers, remains on the agenda. It is stated that the price of this element, which lags behind the production demand, has recorded "crazy" levels. Companies that supply many raw materials, such as chips, palladium, neon gas and nickel used in the production of electronic products from Russia, are having a hard time with the effect of the war. While the automobile sector continues to struggle with the chip crisis, which has forced major corporations to cut output and close plants, analysts believe that the lithium crisis is on the horizon this time in the industry. A few days ago, the famous businessman Tesla's CEO, Elon Musk, warned that lithium production is very slow, prices have reached 'crazy' levels, and difficult days are waiting for the sector. Lithium prices more than doubled in the first quarter after rising 280 percent last year, Benchmark Mineral Intelligence reports. In this case, prices have increased by 433 percent in the last 1 year, reaching the level of 480 thousand 500 yuan (approximately 73 thousand 900 USD) per ton. This jump caused concern among electric vehicle manufacturers.