China’s tightening grip on global markets has sparked a crisis among carmakers searching for rare earth supplies, with manufacturers struggling to secure the essential components needed to produce high-performance vehicles. As demand for electric and hybrid cars increases, the lack of availability is threatening supply chains worldwide.
Carmakers are facing significant challenges in securing access to rare earth elements, crucial for producing advanced materials used in vehicle batteries, engines, and other critical systems. China’s control over global rare earth markets has made it increasingly difficult for companies to find reliable suppliers, leaving manufacturers scrambling to find alternative sources.
Source: https://www.ft.com/content/b9596651-ccf5-4477-8bc8-256c460b7920