Lithium-Ion Battery Manufacturers Sued Over Price Fixing Accusations

We have always had a sneaking suspicion that battery prices were being kept artificially high, in the pursuit of profits above all else, but it seems that most of the major manufacturers are in on the scheme. According to the New Jersey Law Journal, Samsung, Sony, LG and Panasonic have been accused of price fixing, with the issue being the subject of 10 or more class-action lawsuits.
Batteries 1 photo
Keep in mind that the aforementioned companies control most of the lithium-ion cell production for electronics, but since they control so much of it, they do have the power to take prices in whichever direction they see fit. This does not directly affect EVs, yet they have to be inadvertently mentioned here as they suffer as a result of this practice, as well.

Virtually all the people who claim to be against EVs cite the high cost of batteries as being the primary hurdle in their widespread adoption, and since technology which would make EVs rival conventionally-powered cars already exists but it’s just too expensive, the picture does become a bit clearer with this new piece of information. We hope this matter gets resolved, and battery prices are left alone, to fall at their own rate, so that EVs can finally gain broader appeal among motorists.
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