Automakers race to secure key EV materials

Electric VehiclesHigh Tech / High Touch
Written By Jennifer Joslyn

🔋 General Motors Co. and Ford Motor Co. are working overtime to secure deals for key materials needed to develop batteries for electric cars.

Lithium, nickel, cobalt, and other key ingredients in EV batteries are now in high demand, but short supply - stunted by the previous lack of investment and Covid-19 restrictions for labor and trade. China, the leader in the refining and manufacturing of these materials, has other nations concerned due to the political tensions growing in the Asian country. Automakers are being propelled into brokering quick agreements to secure the materials needed to create more electric vehicles for the market.

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Automakers race to secure key EV materials
Automakers race to secure key EV materials

General Motors Co. and Ford Motor Co. are working overtime to secure deals for key materials needed to develop batteries for electric cars.

Jennifer Joslyn
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