Future of EVs limited by material scarcity, says Stellantis CEO

Tavares was also critical of the government regulations that emphasised electric mobility over other possible alternatives.

Carlos Tavares, CEO of Stellantis, in a recent interview, outlined a "volatile" situation which may restrict EV manufacturers globally.

He stated that the raw materials required to build EVs are scarce and expensive. Tavares stated that there is not enough lithium being produced to replace the current 1.3 billion ICE-powered cars on the planet with clean mobility. Further to this, he added that the concentration of lithium mines could even create other geopolitical issues.

Tavares was also critical of the government regulations that emphasised electric mobility over other possible alternatives. He even lamented decisions imposing one single technology instead of creating healthy competition among many others.

However, having said this, Tavares did express confidence that the conglomerate will achieve its 2030 target. He even mentioned that the recent hold-up on the 2035 fossil fuel ban by the European Union hasn't affected its trajectory. As per their plans, 100% of Stellantis' sales in Europe and 50% in the USA will be all-electric by 2030.

Source: Autoblog