Automakers Take Multi-Billion Profit Hit As Battery Metals Boom

Rising prices of critical electric vehicle (EV) metals are denting the profits of global automakers, just as a growing number of legacy carmakers are investing more in zero-emission vehicles.  The rally in lithium and copper prices—key battery metals—comes at a time when the global auto industry faces increased supply chain pricing pressure from the chip shortage and higher prices of steel and other input materials.  The rally in the prices of raw materials highlights the challenges the industry, and the world, face in accelerating…