Supply Chain Dynamics in Lithium Battery Raw Materials

Lithium battery production relies on materials like lithium, cobalt, and nickel. However, supply chain challenges have intensified due to geopolitical factors and rising demand from the EV market. In 2024, companies are exploring sustainable solutions, including recycling programs and alternative materials, to counteract supply volatility. Some companies are also investing in domestic mining operations or partnering with trusted suppliers to ensure steady access to these critical materials. Reducing reliance on cobalt is a priority, as it faces both ethical and supply challenges. These efforts aim to create a more stable and environmentally friendly supply chain for lithium battery manufacturing.