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A Tesla Supercharger rapid battery charging station. Photo: Smith Collection/Gado/Getty Images

A Tesla official said Thursday that a shortage of key minerals used in electric vehicle batteries could emerge years in the future absent more investment in mining projects, according to reports in Reuters and Bloomberg.

Why it matters: Growing demand for EVs will require higher volumes of lithium, copper (more on that below) and other materials. The topic was discussed at a closed-door meeting in Washington yesterday that included U.S. officials and mining industry, per the outlets.

What they're saying, via Bloomberg:

  • "Prices for some of the minerals, which include graphite, cobalt, lithium and nickel, could increase as a result of the high demand and the limited supply, Tesla global supply manager of battery metals Sarah Maryssael said in a closed-door presentation Thursday confirmed by the company."
  • "Investment is important to ensure there is sufficient supply for the industry to grow, she said."

What else: Copper is a challenge too, explains Reuters.

  • "The copper industry has suffered from years of underinvestment, and it is now working feverishly to develop new mines and bring fresh supply online as the electrification trend envelops the global economy," they report.

Go deeper: Cobalt demand still rising despite efforts to reduce usage in EVs

Go deeper

Dion Rabouin, author of Markets
Updated 3 hours ago - Economy & Business

Our make-believe economy is here to stay

Illustration: Eniola Odetunde/Axios

The Federal Reserve and global central banks are remaking the world's economy in an effort to save it, but have created something of a monster.

Why it matters: The Fed-driven economy relies on the creation of trillions of dollars — literally out of thin air — that are used to purchase bonds and push money into a pandemic-ravaged economy that has long been dependent on free cash and is only growing more addicted.

Mike Allen, author of AM
4 hours ago - Politics & Policy

Why Trump may still fire Barr

Photo: Jabin Botsford/The Washington Post via Getty Images

Attorney General Barr may be fired or resign, as President Trump seethes about Barr's statement this week that no widespread voter fraud has been found.

Behind the scenes: A source familiar with the president's thinking tells Axios that Trump remains frustrated with what he sees as the lack of a vigorous investigation into his election conspiracy theories.

Mike Allen, author of AM
4 hours ago - World

Scoop: Trump's spy chief plans dire China warning

Xi Jinping reviews troops during a military parade in Beijing last year. Photo: Thomas Peter/Reuters

Director of National Intelligence John Ratcliffe on Thursday will publicly warn that China's threat to the U.S. is a defining issue of our time, a senior administration official tells Axios.

Why it matters: It's exceedingly rare for the head of the U.S. intelligence community to make public accusations about a rival power.