Why The U.S. EV Industry Is Facing A Battery Shortage

CNBC published this video item, entitled “Why The U.S. EV Industry Is Facing A Battery Shortage” – below is their description.

U.S. automakers are finally making bold commitments to electrify their fleets, but in the short-term, there may not be enough lithium-ion batteries to go around. While China dominates the battery manufacturing supply chain, and Europe is working to catch up, the U.S. still lags far behind. As batteries become a matter of energy independence and national security, here’s what the U.S. can do to catch up.

As automakers continue to grapple with a semiconductor shortage, some experts say the next supply chain crisis for the U.S. could involve lithium-ion batteries. As companies like GM, Ford and a slew of start-ups are ramping up their electric vehicle ambitions, current battery production in the U.S. will not be able to keep up with demand.

Though the U.S. does have a handful of large-scale battery manufacturing facilities, including Tesla’s Gigafactory which operates in partnership with Panasonic, a trade dispute between two Korean battery makers, LG Chem and SK Innovation, threatens the future of a new battery factory in Georgia.

Watch the video to learn why the U.S. has fallen behind China and Europe, and what needs to happen in order to avoid a bottleneck in EV production.

CNBC YouTube Channel

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