Stellantis CEO Carlos Tavares holds a news conference after meeting with unions, in Turin, Italy, March 31, 2022.
Stellantis CEO Carlos Tavares said he expects shortages of the batteries and raw materials needed to make electric vehicles in the coming years, as the global automotive industry pivots to EVs to meet an expected increase in consumer demand and government regulations.Tavares said he expects a shortage of EV batteries by 2024-2025, followed by a lack of raw materials for the vehicles that will slow availability and adoption of EVs by 2027-2028.
"The speed at which we are trying to move all together for the right reason, which is fixing the global warming issue, is so high that the supply chain and the production capacities have no time to adjust," he told media Tuesday after the company announced a new $2.5 billion EV battery plant in Indiana....
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