CHARLOTTE, N.C. — As the number of electric vehicles on the roads increases, there are new warnings of a battery supply scarcity.
Let's connect the dots.
The new president and CEO of Volvo cars, predicts a lack of battery supply will be a pressing issue for EVs going forward.
More than 200,000 EVs were sold in the first quarter of this year.
In February, Volvo cars and battery maker Northvolt said they would build a battery manufacturing plant next year in Sweden.
The factory would supply enough batteries for half a million cars a year. But that might not be enough.
Volkswagen's CEO said batteries could be a constraint for new electric vehicles over the next five to ten years.
He said there needs to be more energy and cell production, along with a large supply chain that still needs to be set up.
The EV market is tightening, long-established automakers are hopping on the trend, which will lead to even more demand with little supply.
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