EV battery production faces supply chain, geopolitical headwinds - report

A fragile supply chain marred by geopolitical tensions could hit the planned expansion of electric vehicle (EV) battery production, slowing EV adoption, S&P Global Mobility warned in a report on Monday.

The auto industry information provider said original equipment manufacturers' battery-electric and hybrid vehicle sales aspirations will face strong headwinds as they scramble for raw materials, with annual market demand for lithium-ion batteries pegged at about 3.4 Terawatt hours (TWh) by 2030.