Resolution to Ukraine war won’t end battery metal shortages

Prices rises on key metals and the need to replace Russian-sourced materials could ultimately spur greater supply chain independence. By Will Girling

In 2021, the International Energy Agency noted that 6.6 million electric vehicles (EVs) had been sold globally—more units were sold each week than the entirety of 2012. According to AlixPartners, the EV sector achieved 8.3% year-on-year growth and claimed an 11% share of the global vehicle market in Q1 2022. However, as the Russia-Ukraine conflict draws on, this increased demand is becoming problematic.

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