NEW DELHI: As the electric vehicle markets stand on the brink of explosive growth, governments and the industry must proceed with caution as they need practical strategy to manage this fast-growing segment, says a report.A number of governments and car makers have ambitious plans for electric vehicles, but car makers are facing challenges to secure supplies of raw materials used for battery production, the report by research organisation A T Kearney Energy Transition Institute said. Electric car batteries rely on a host of rare materials -- from lithium and nickel, to cobalt. The problem is further complicated by the fact that we have limited availability of the natural resources required for LIB battery manufacturing". Rising demand and tight supplies have also led to price increases. "The challenging natural resource shortage is further exacerbated by a lack of viable and cost-effective reuse and recycling options for electric car batteries," Debarre added.

Source: Economic Times March 18, 2018 06:22 UTC