The bottleneck in supply that is causing high prices is not lack of lithium ore, but lack of refining capacity, that purifies lithium ore to lithium carbonate or lithium oxide at the purity required for making batteries.
There is plenty of lithium out there. There are at present not enough refineries to clean it up, but that is easily fixed. The cure for high prices is high prices.
Lithium is definitely renewable. It's more difficult than lead in lead-acid batteries (approx 99.5% recycled), but it's doable, and will eventually cost the same as lithium ore from mines. Recycling will start when there are a few million tons of dead lithium batteries to start recycling.