Tesla will set up a car manufacturing unit in India, the chief minister of the state of Karnataka has said, as the U.S. electric vehicle maker aims to enter one of the most promising car markets in Asia
Electric-vehicle surge sends cobalt prices soaring
Already a shortage of semiconductors is slowing the recovery in auto production
(Bloomberg)Premium
Yang Jie
, The Wall Street Journal
China controls big chunk of market for key metal in car batteries that is mined largely in Africa
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A 20% rise in the price of cobalt since the beginning of this year shows how the rush to build more electric vehicles is stressing global supply chains.
Already a shortage of semiconductors is slowing the recovery in auto production. Now cobalt, a blue metal that is needed for many types of batteries including those in EVs, is a concern, according to people in the auto and battery industries and analysts.