The Increasing Need for EV Battery Minerals

The world is rapidly shifting towards electric vehicles (EVs) as an alternative to traditional cars powered by gasoline. This shift is being driven by a variety of factors, including a focus on tackling climate change, reducing air pollution, and improving energy security.

At the heart of EVs is the battery, and this battery is made up of a variety of minerals and elements. Currently, lithium-ion batteries are the most commonly used for EVs, and these batteries require lithium, cobalt, nickel, and graphite as their primary components. The
massive global increase in demand for EVs has created an unprecedented need for these minerals, leading to challenges in securing a steady and reliable source. And from areas of the world that are politically reliable

The challenge is increasing securing the minerals with demand rising. Many companies are trying to find innovations, such as recycling used batteries. Additionally, many countries and companies are exploring the possibility of using other battery technologies that don’t rely on cobalt, such as lithium-iron-phosphate or lithium-metal-polymer batteries.

Recent reports are that the U.S. and Europeans are considering a cooperative group that would work together to procure minerals, relying less on China and Congo. This “buyers’ club” could advance the industry toward reducing dependency on one source.

The shift to EVs is a major step forward in tackling climate change, but it’s essential that the minerals used in these batteries come from a reliable, ethical, and sustainable source.