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German Carmakers Warned of Shortages of EV Battery Materials
Plans by German carmakers to sharply hike production of electric cars could be stymied by shortages of several raw materials for batteries.
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Plans by German carmakers to sharply hike production of electric cars could be stymied by shortages of several raw materials for batteries.
The head of the Federation of German Industries (BDI) tells Welt am Sonntag warns of possible supply bottlenecks in battery output could arise because demand for cobalt, graphite, lithium and manganese is climbing faster than capacity to produce them.
If shortages develop, warns Matthias Wachter, who heads security and raw materials for BDI, “There won’t be any future technology ‘made in Germany.’”
Reuters notes that VW is trying to line up long-term supply contracts to avoid possible shortages as it ramps up plans to roll out 80 plug-in hybrids and all-electric vehicles by 2025. But the news agency says talks last week to secure cobalt at prices below the current market ended without a deal.
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