Looming lithium shortage presents future challenges for Battery Specialties
As demand for electric vehicles continues to rise over the next five years, demand for lithium is expected to outpace production. While lithium production is expected to grow, demand is expected to outpace this growth for at least the next five years. This shortage will drive lithium prices, posing a potential challenge for Battery Specialties, which sells a variety of lithium-ion batteries.
COVID|CompetitionIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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