Tesla Manager Sees Risk of Battery-Minerals Shortage in Future
- Funding for new mines needed after years of low investment
- China so far dominates the electric vehicle supply chain
Lithium ore
Photographer: Carla Gottgens/BloombergThis article is for subscribers only.
Booming demand for electric vehicles and insufficient investment in mines could result in a global shortage of minerals needed to manufacture rechargeable batteries in a few years’ time, a Tesla Inc. representative told U.S. officials and mining executives in a meeting in Washington.
Prices for some of the minerals, which include graphite, cobalt, lithium and nickel, could increase as a result of the high demand and the limited supply, Tesla global supply manager of battery metals Sarah Maryssael said in a closed-door presentation Thursday confirmed by the company. Investment is important to ensure there is sufficient supply for the industry to grow, she said.