While Volkswagen AG, Tesla Inc and other electric-focused automakers and battery manufacturers are expanding in the United States and investing billions in the new technology, they are reliant on mineral imports without a major push to develop more domestic mines and processing facilities.
China already dominates the electric vehicle supply chain. It produces nearly two-thirds of the world’s lithium-ion batteries – compared to 5 percent for the United States – and controls most of the world’s lithium processing facilities, according to data from Benchmark Minerals Intelligence, which tracks prices for lithium and other commodities and is organizing the Washington, D.C., event.
