EV Adoption Risks a China-Controlled Battery Crisis

A global battery shock could be worse than the oil crisis.

Workers at a factory that makes lithium batteries for electric cars and other uses, in Nanjing, eastern Jiangsu Province, China, on March 12, 2021. STR/AFP via Getty Images

Commentary

The global push toward electric vehicles (EVs) is creating a dangerous new dependence on China, whose dominance in battery production and critical minerals could trigger a supply shock worse than past oil crises.