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Despite Record EV Production Numbers, Shortage of Battery Metals Looms

Newswire.ca - Mon Apr 22, 10:23AM CDT

USA News Group Commentary

VANCOUVER, British Columbia, April 22, 2024 /CNW/ -- USA News Group – Giants of the auto industry have notably began sending senior executives to mingle with mining experts at events such as the BMO Global Metals & Mining Conference signalling an increasing importance to secure materials to make their cars. The reality is that there's a critical battery metals shortage looming, causing executives from car producers such as Tesla Inc. (NASDAQ:TSLA) (NEO:TSLA) and Ford Motor Company (NYSE:F) to take the matter very seriously. Despite Tesla reporting record Q1 2023 deliveries, Benchmark Minerals projects will require more than 300 new battery metal mines to meet future EV demand. To get there, many battery metals projects continue to be developed, including those from Lithium South Development Corporation (TSXV:LIS) (OTC:LISMF), Albemarle Corporation (NYSE:ALB), and even Berkshire Hathaway Inc. (NYSE:BRK-A) (NYSE:BRK-B).

Read more at newswire.ca

Provided Content: Content provided by Newswire.ca. The Globe and Mail was not involved, and material was not reviewed prior to publication.

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