TOKYO -- The competition to produce raw materials for electric vehicle batteries is taking a potentially dangerous turn as suppliers pursue expensive expansion efforts amid softening markets for critical commodities such as lithium and nickel.
Lithium and nickel miners are taking on additional costs to produce more refined products. Tsingshan Holding Group, the Chinese metals giant, has reportedly begun talks with several copper plants to shift their focus to making refined nickel. And new lithium supplies are coming from countries including Australia, Argentina and Brazil.
