GM is buying direct access to lithium by investing $650 million in the Canadian developer of a Nevada mine that is the biggest U.S. Other governments including Indonesia, Chile and Zimbabwe are trying to maximize their return on deposits of lithium, cobalt and nickel by requiring miners to invest in refining and processing before they can export. Canada ordered three Chinese companies last year to sell lithium mining assets on security grounds. “There will be a shortage of EV battery supplies,” said Joshua Cobb, senior auto analyst for BMI.Īdding to uncertainty, lithium has emerged as another conflict in strained U.S.-Chinese relations.īeijing, Washington and other governments see metal supplies for electric vehicles as a strategic issue and are tightening controls on access. Each battery requires about eight kilograms (17 pounds) of lithium, plus cobalt, nickel and other metals. Global lithium output is on track to triple this decade, but sales of electric SUVs, sports cars and sedans that rose 55% last year threaten to outrun that.
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