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Commodities

Glencore boss warns of future China dominance in electric vehicles

US and Europe risk being left behind unless they secure cobalt supplies for batteries, says Ivan Glasenberg

Glencore chief executive Ivan Glasenberg says western carmakers cannot rely on China to supply batteries for electric vehicle fleets   © Reuters

The car industry in the US and Europe risks being left behind by their Chinese rivals unless they secure supplies of cobalt, according to the world's biggest producer of the key battery metal.

Glencore chief executive Ivan Glasenberg told the FT Future of the Car Summit on Wednesday that western carmakers would be naive to think they could always rely on China to supply the batteries for electric vehicle fleets.

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