The U.S. and European EV makers rely mostly on Chinese battery suppliers and mining companies to supply the critical minerals for Li-Ion battery production. This could be hard to change, but not impossible, said Financial Times citing a Goldman Sachs report. It would require a barrage of measures, including protectionist policies, which could turn messy if it leads to an economic war with China.

It would not be possible without developing new battery chemistries that require fewer minerals from China. Battery recycling would also need to rise significantly to make up for the needed materials. Even so, achieving a self-sufficient supply chain would require more than $164 billion of new capital spending by 2030.

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Goldman Sachs Analyst Dreams Out Loud - Predicts Independence From China EV Batteries By 2030

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