Surging demand for materials needed for electric vehicle batteries could surpass current supplies of key metals within a few years without a big increase in supply.
could prove especially impactful—if it works. For the near term, at least, the company believes it has what it needs.
“If you just look at Tesla's ambition to produce 20 million electric vehicles a year in 2030, that alone will require close to two times the present global annual supply—and that’s before you include VW, Ford, GM and the Chinese,” Menell said. Elon Musk’s company is also especially reliant on China for battery materials.
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