EVs Could See a Shortage Soon

EVs, also known as electric vehicles, are the future. There is no denying the global trend involving automotive companies and technology industries competing to create the best electric vehicle the world has ever seen. But, as recent evidence has shown, there seems to be a major hiccup in the process and the progress of Evs. It has not happened yet but is coming soon. So, what is it and when can it be expected to happen?

High Demand – Low Supply

Every automotive company in the world is pushing to create and refine its production of electric vehicles. The industry as a whole is competing against itself, seeing who will be the first to offer reliable, innovative electric vehicles. In fact, the world has demanded that this happen.

There are many reasons why the world is demanding this. The world is developing. More and more technological advancements seem to be at the forefront of progress and desirability. But, one of the main reasons, the world is looking for cleaner, more sustainable modes of travel, and the EV is a major factor in achieving this.

In the United Kingdom, regulators are pushing for the ban of non-electric vehicles by 2030. Originally, they were planning on doing this in 2040, but have moved the deadline up. Joe Biden has also given his opinion on the matter. He believes the world should be moving towards EVs as well. The U.S. President and his administration have stated that by the end of the decade half of all vehicles in America will be EVs.

Alright, so there is a massive demand for EVs. What’s the issue?

No Battery

Stellantis, one of the world’s largest carmakers, has just recently come forward with some troubling news. Stellantis was formed in 2021 by Fiat Chrysler and France-based Groupe PSA.

The CEO of the company, Carlos Tavares, has announced that he expects there to be a global shortage of EV batteries by 2024 and 2025. This, unfortunately, seems to be only the beginning of EV production as a whole. Without batteries, there is no electricity, and it goes without saying that if there is no electricity there is no EV. Tavares expects this to affect not just his company but the entire EV industry as a whole. Soon, everyone making EVs will have to consider this fact, that there is a huge chance that supply will fall short of demand.

More Problems Ahead

As the demand for EVs increases with each passing day, the likelihood of shortages grows. First, it will be batteries, but if trends continue as they are, then it will be the raw materials it takes to produce EVs altogether. Tavares has urged policymakers around the world to loosen the reins a little so that the EV industry can grow and flourish in a timely manner.

If not, there is a chance that EVs do not get the attention and care that they need to become a reality, at least not as soon as we would all hope.