If nations hope to achieve their targets on electric vehicle adoption, then supply chains for critical materials such as lithium and nickel need to be quickly built up.
To meet carbon emissions goals and EV demand projections for 2030, the auto industry needs about 50 more lithium mines, 60 more nickel mines and 17 more cobalt mines.
Getting a new mine operational in the US can take upwards of 10 years due to long permitting processes and high litigation costs, posing a massive challenge for automakers to secure the necessary supplies needed to ensure successful EV adoption.
J-P Martins, partner at Partners in Performance, believes the best approach for automakers is to work through equity partnerships and joint ventures with companies up and down the supply chain, including mining companies.
Source: https://www.autonews.com/