Carmakers are working to secure supplies of materials ranging from lithium, nickel and manganese for batteries to magnesium for car parts.
see photosThe scarce supply of raw materials for EVs could slow the transition from fossil fuel-burning vehicles.
The scarce supply of raw materials for electric cars could slow the transition from fossil-fuel-burning vehicles to electric vehicles, Mercedes-Benz chief executive Ola Kalenius said in an interview with German paper Die Zeit on Wednesday.
“Industrialization of mines and refinery capacities may not proceed as quickly as demand increases. If it does, it will only delay e-mobility, but will not stop it,” said Calenius.
Carmakers are working to secure supplies of materials ranging from lithium, nickel and manganese for batteries to magnesium for car parts, as they race to ramp up electric vehicle production, but the raw material shortages are increasing. The cost has eroded their margins.
Some, including Mercedes-Benz, which changed its name from Daimler on Tuesday after splitting from Daimler Trucks, have hiked prices to shock consumers.
The increase has recently been seen in response to ongoing semiconductor shortages, which reduced production volumes last year.
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