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China Restricts Exports of Graphite, Key Mineral Used for Making EV Batteries

by M. Wilowski, Oct 20, 2023 in Investopedia

KEY TAKEAWAYS

  • China’s Ministry of Commerce on Friday curbed exports of graphite, a critical mineral used in the production of lithium-ion batteries for electric vehicles (EVs).
  • The move could make a shortage of graphite more likely at a time when worldwide EV demand is soaring.
  • China last year accounted for close to two-thirds of global production of graphite and all but 2% of spherical graphite output, the final product used in anodes for lithium-ion batteries.
  • EV makers such as Tesla, Rivian, and Lucid Motors, as well as traditional automakers that have developed their own EVs in recent years, could be at risk of production shortages.
  • With potential shortages looming, U.S. government officials have sought to incentivize domestic production of graphite and other minerals used in clean energy technologies.
  • …