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Increased EV production driving materials' prices higher

Manufacturers scramble to secure cobalt, coke for auto battery boom

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Artisanal miners work at a cobalt mine-pit in Tulwizembe, Democratic Republic of Congo.   © Reuters

TOKYO -- As electric vehicles become more popular, prices for the raw and basic materials used in their production have been rising.

Prices for cobalt, coke and carbon fiber are expected to continue increasing as EV parts manufacturers scramble to secure supplies, affecting availability of these materials for other industries as well. 

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