Benchmark: Russia’s invasion of Ukraine risks raising costs for Europe’s auto industry
Green Car Congress
FEBRUARY 26, 2022
Russia’s invasion of Ukraine threatens to increase costs for Europe’s vehicle industry, which is already struggling with record high lithium prices and a shortage of semiconductor chips, according to Benchmark Mineral Intelligence. Prices for nickel, a key battery material, rose to their highest levels since 2011 this week following Russian president Vladimir Putin’s decision to send troops into Ukraine.