Benchmark Mineral Intelligence’s inaugural Battery Megafactories Europe 2022 event in Berlin concluded with a stark warning to automakers.
According to the London-HQ firm, among the key takeaways from the event, which was not open to the press, is the huge raw material gap that has opened up amid the furious battery factory buildout taking place globally:
Benchmark founder Simon Moores stressed that automakers will “need to become miners” and only bringing downstream capacity to market will not be sufficient to feed the booming EV battery supply chain.
Moores added that the lithium and nickel price spikes seen recently are an indication that OEM’s raw material fears are materialising and the chaos seen in nickel trading on the LME is adding to calls for new pricing mechanisms.
Benchmark’s USA gigafactory event is scheduled for 23–24 June in Washington DC.