LONDON : Automakers, including Tesla and Mercedes, are rushing to lock in graphite supply from outside dominant producer China, as demand for electric vehicle (EV) batteries outpaces other uses for the mineral for the first time due to soaring EV sales.Auto firms have been slow to plan for graphite shorta
LONDON : Automakers, including Tesla and Mercedes, are rushing to lock in graphite supply from outside dominant producer China, as demand for electric vehicle batteries outpaces other uses for the mineral for the first time due to soaring EV sales.
"Automakers are in a real bind because there's been no investment in Western graphite," said Mark Thompson, founder and managing director of Australia's Talga Group Ltd, which plans to launch production next year in Sweden. About $12 billion of investment is needed by 2030 in graphite and 97 new mines required by 2035 to meet demand, Benchmark Mineral Intelligence said in a report.
Mercedes said it was diversifying the sourcing of raw materials, including graphite, and"have been in dialogue with various suppliers for some time". Syrah is building a U.S. processing operation, one of a handful of plants being built outside of China that can transform graphite for battery use. The IRA requires certain high percentages of battery components to be produced in the United States, or in a country with which it has a free trade deal.
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