Analysis: Ukraine invasion sets back Musk's dream for cheaper EVs, for now 3/7/22
As a result of the war in Ukraine, existing raw materials shortages are being further exasperated by the disruption of raw material exports from Russia like aluminum. Nornickel, Russia’s largest miner, is responsible for producing roughly 20% of the world’s supplies of high purity class 1 nickel, which is key to the production of EV batteries, according to Benchmark Mineral Intelligence.