Unlike the original automotive sector that grew organically over a century into what it is today, the electric vehicle (“EV”) market is expected to hit the ground running and achieve mass-market penetration in only a few decades. Electric vehicles run on rechargeable lithium-ion battery packs rather than internal combustion engines, and produce zero carbon emissions. However, their batteries are made using rare metals such as lithium, and presently, the United States barely has a supply chain that can provide these metals, with American EV makers and established automakers sourcing the metals from foreign supply chains.
China, which is America’s largest competitor on the global stage, is one of the largest processors of EV metals in the world, a that fact doesn’t sit well with the White House…
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