Research The metal has been referred to as "the new gasoline" because of its use in electric vehicle batteries, but you can also find it in smartphones, laptops, Airpods, electric toothbrushes, smartwatches, e-cigarettes, pacemakers and other devices.The lithium market was a pretty sleepy market for decades," said Ken Hoffman, the co-head of consulting firm McKinsey & Co.'s EV Battery Materials Research Group.Lithium can be used in ceramics, greases and pharmaceuticals, but it’s best known as the material in batteries for cellphones, laptops and EVs.But “people still think it’s more important that we reduce emissions as much as possible, even if it means they have to pay a little bit more.” As for the price of consumer goods with smaller lithium-ion batteries like smartphones, experts say those prices should be more stable.The Federal Aviation Administration also has strict rules around devices with lithium batteries and requires travelers to keep the devices in carry-on baggage due to fire risk."