Abstract:

The EV share of the car market has skyrocketed from 4% in 2020 and is predicted to reach 18% in 2023, with the largest markets existing in China, Europe, and the United States. The explosive growth in electrified transportation will forever change the status quo for the car manufacturing industry and for the global energy economy. This historic transition has the potential to dramatically reduce climate emissions and create a cleaner, healthier, and more equitable transportation system. According to the International Energy Agency, by 2030, EVs will avoid the need for at least 5 million barrels of oil a day. However, current technologies to produce EV batteries require significant amounts of materials found mainly in environmentally sensitive and historically marginalized and disinvested communities. Without an intentional, ethical approach to battery material sourcing, impacts on these regions and communities will intensify as demand increases.