The CEO of Jeep maker Stellantis NV on Tuesday joined the chorus of voices in the auto industry warning about a future shortage of electric-vehicle batteries without more production in Europe and the United States, potentially risking the transatlantic automaker's EV commitments.
"We can anticipate that we will have around 2025, 2026, a short supply of batteries," Carlos Tavares said remotely during the Financial Times' Future of the Car summit. "And if there is no short supply of batteries, then there will be a significant dependence of the Western world vis-à-vis Asia."
Tavares emphasized under such a scenario, the cost of EVs would remain high. That could jeopardize the ability for many customers to afford them, and shrinking demand could harm automakers like Stellantis and its ability to employ the 300,000 people it does. Tavares called on Western nations to take a "360-degree approach" to a carbon neutral future that includes ensuring secure access to raw materials, clean energy production and a charging networks for EVs.
