The electric vehicle battery supply chain that has been built over the last 20 years will not be the same one that carries us through the next 20 years. With demand for EVs growing rapidly, fundamental changes are needed to address the ethical and sustainable challenges in creating EV batteries.
As a growing number of Americans trade in their gas guzzlers for environmentally friendly EVs, auto manufacturers and those who create EV batteries should prepare to go under the American consumer’s microscope on issues like semiconductor supply chains, carbon footprints in manufacturing, and circularity.
Sky-high gas prices are forcing more Americans to consider making the switch to an electric vehicle. And as EV demand goes up, automakers are under pressure to produce these vehicles as quickly and economically as possible.
The higher costs of EVs have come down considerably with technology improvements, tax credits, and new battery technology. At some point, EVs should become less expensive than gas-powered vehicles.
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