Raw materials such as cobalt, lithium and graphite are essential components in the production of electric vehicle batteries. However, supplies of these raw materials could run out sooner than expected.

Former leader of the German Green Party and current Foreign Minister Annalena Baerbock once expressed the conviction that electric vehicle battery raw materials would not be so straightforward. A current Instituts der deutschen Wirtschaft (IW) study confirms that there is substance to the minister's statement, writes Focus.de.

The IW believes that the security of supply for industry regarding more than 20 important raw materials is 'highly critical'. These raw materials include cobalt, lithium and graphite, which are important components for electric vehicle batteries, while platinum, iridium and nickel could become the Achilles' heel of hydrogen car production, threatening the planned transition to new forms of energy use, which 'will not succeed without hydrogen', warned IW head Karl Lichtblau.