Automakers are getting into the mining industry.

The mineral and mining sector has lagged behind automakers aggressively pursuing EVs.
There is a risk of an EV battery shortage. Automakers are getting directly involved in the mining industry.
Manufacturers of electric vehicles did not account for the unavailability of battery minerals when they made ambitious plans to ramp up production of EVs.
Automakers initially received internal reports that there was plenty of lithium and nickel available on the market and they could simply purchase it. This was not the case.
There has been a scramble to locate and secure supplies of lithium, nickel, graphite, and other battery making materials. Most of these resources are mined and processed outside of the United States in places like China and Australia.
The funny thing is that the rigid factory schedules and clockwork precision of the automobile manufacturing industry is foreign to the mining industry where cost overruns and delays are common. Many mining operators don’t know if their high risk ventures will be profitable. The automakers want stable mineral prices but the mining and commodity industry are characterized by wild price swings.
Works Cited:
https://www.wsj.com/articles/the-new-ev-gold-rush-automakers-scramble-to-get-into-mining-ebda14eb?mod=hp_lead_pos4
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