Rising EV sales pose a threat to crucial material supply networks.
The worldwide fleet of electric vehicles market is quickly growing. While Tesla continues to lead the electric vehicle (EV) industry since introducing its first vehicle in 2008, other automakers are rapidly transitioning their fleets to electric. General Motors has declared that it would invest $35 billion in the development of electric and autonomous vehicle products through 2025, and that it will phase out gasoline and diesel vehicles by 2035. Volkswagen wants 50% of its car sales to be electric by 2030, and virtually all of its sales to be electric by 2040. Audi will only offer completely electric cars in 2026, with the goal of having all car sales be electric by 2030. The shift to EVs is a critical step toward a net-zero future. According to the International Energy Agency, more than 60% of passenger car sales must be EVs by 2030 in order for the world to reach net-zero greenhouse gas emissions by 2050. It is 18 times the number of EVs sold in 2020. By the mid-century mark, al...