Supply Chain for EV Batteries Needs Significant Investments

While lithium, cobalt and nickel – key materials for EV batteries – aren’t rare, the supply chains for them are woefully inadequate to meet the ambitious demands of the automotive industry’s goals to move toward fully electric fleets in the future. Auto manufacturers are investing billions into the supply chain and looking to source materials directly from mines, a major shift in an industry that has typically relied on a large network of suppliers for various parts.

Volkswagen electric car
A worker assembles Volkswagen electric cars at the company’s plant in Zwickau, Germany on Jan. 27. Automakers like Volkswagen are racing to secure enough metals to power the batteries needed to make electric vehicles.
Jens Schlueter/Getty Images

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