The EV battery supply shortage might be even worse than the chip shortage

Huge issue in years to come

The ongoing global chip crunch has made consumer electronics tougher to track down. The electric vehicle industry faces a similar conundrum, but instead of semiconductors, companies are staring down a shortage of materials to make batteries. Rivian CEO RJ Scaringe predicted that the supply of EV batteries would become a huge issue in years to come.

The chip crunch, Scaringe said, would look like a “small appetizer to what we are about to feel on battery cells over the next two decades,” according to the Wall Street Journal. While giving press a tour of the company’s factory in Normal, Ill., last week, Scaringe said that building enough batteries to keep up with demand for EVs would be a major hurdle for the industry. He anticipates shortages in every part of the battery building process, including mining raw materials like cobalt, lithium and nickel, processing materials and building the battery cells themselves.

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Tesla, Volkswagen And Nio Scrambling For Graphite

Graphex Group Ltd (GRFXY) is going to list on the New York Stock Exchange (NYSE) 

The White House is now more desperate than ever to secure America’s supply chain of critical minerals. That includes rare earth elements and battery materials, such as lithium, cobalt, and graphite–all of which are key not only to electric vehicles and energy storage, but to computer components, household appliances, and clean energy technology in general.

China controls most of this market and the only truly effective supply chain security move is to bring it all home. While sparse announcements by junior miners exploring North American venues for new sources of these battery materials offer some hope, they are risky opportunities for investors. The first company looking to bring one of the most important battery materials back home is Graphex Group Ltd (GRFXY), which has just announced plans to list on the New York Stock Exchange (NYSE).

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