Chinese EV market slowdown slashes lithium, cobalt prices

TOKYO — Prices for metals used in electric vehicles are falling, with the value of lithium down nearly 50% from a recent peak last fall, as EV demand slows down in the largest market of China.

With resource producers planning output expansion, prices for those materials, including cobalt and nickel, are expected to remain soft for some time. The trend, in turn, could bring down prices of EV themselves, further fueling their spread, some experts predict.