A GM employee poses with an example of the company’s next-generation lithium metal batteries at GM Chemical and Materials Systems Lab in Warren, Michigan, September 9, 2020.
Steve Fecht | General Motors | Handout | via Reuters
BEIJING — Growing demand for electric car batteries will cause prices of the main materials to surge, Goldman Sachs analysts said in a March 18 note.
That in turn will drive prices of batteries higher by about 18%, affecting the total profit of electric car makers since the battery accounts for about 20% to 40% of the vehicle cost, the Goldman analysts said.
While the report didn’t give specific price targets for the commodities, the analysts’ model predicted a…