S&P Global also said soaring prices of critical battery metals threaten the profit margins of suppliers and automakers.
A fragile supply chain marred by geopolitical tensions could hit the planned expansion of electric vehicle battery production, slowing EV adoption, S&P Global Mobility warned in a report on Monday.
“Elements such as lithium, nickel, and cobalt do not just magically appear and transform into EV batteries and other components,” said Graham Evans, director of auto supply Chain & technology at S&P Global Mobility.
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