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.