In 2021, a pound of cobalt cost around 25 U.S. dollars. Comparatively, the price of a pound of iron stood well under one U.S. dollar, at around eight cents. Lithium-ion batteries used in electric vehicles rely heavily on cobalt containing cathodes, but cobalt supply chain issues have inflated cobalt prices in the past years. With increasing sales of electric vehicles worldwide, the industry will need to look into other metal alternatives for vehicle batteries.
Price of materials used for cathodes in electric vehicle lithium-ion batteries from 2015 to 2021
(in U.S. dollars per pound)
Characteristic
Cobalt
Nickel
Manganese
Aluminum
Iron
Copper
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EERE. (March 7, 2022). Price of materials used for cathodes in electric vehicle lithium-ion batteries from 2015 to 2021 (in U.S. dollars per pound) [Graph]. In Statista. Retrieved September 11, 2024, from https://www.statista.com/statistics/1294777/battery-cathode-material-price/
EERE. "Price of materials used for cathodes in electric vehicle lithium-ion batteries from 2015 to 2021 (in U.S. dollars per pound)." Chart. March 7, 2022. Statista. Accessed September 11, 2024. https://www.statista.com/statistics/1294777/battery-cathode-material-price/
EERE. (2022). Price of materials used for cathodes in electric vehicle lithium-ion batteries from 2015 to 2021 (in U.S. dollars per pound). Statista. Statista Inc.. Accessed: September 11, 2024. https://www.statista.com/statistics/1294777/battery-cathode-material-price/
EERE. "Price of Materials Used for Cathodes in Electric Vehicle Lithium-ion Batteries from 2015 to 2021 (in U.S. Dollars per Pound)." Statista, Statista Inc., 7 Mar 2022, https://www.statista.com/statistics/1294777/battery-cathode-material-price/
EERE, Price of materials used for cathodes in electric vehicle lithium-ion batteries from 2015 to 2021 (in U.S. dollars per pound) Statista, https://www.statista.com/statistics/1294777/battery-cathode-material-price/ (last visited September 11, 2024)
Price of materials used for cathodes in electric vehicle lithium-ion batteries from 2015 to 2021 (in U.S. dollars per pound) [Graph], EERE, March 7, 2022. [Online]. Available: https://www.statista.com/statistics/1294777/battery-cathode-material-price/
