A recent survey shows that China’s mineral oversupply is lowering EV costs but increasing U.S. dependence on foreign materials just as President Donald Trump rolls back Biden-era EV policies.
China dominates the global production and processing of key minerals such as lithium, cobalt, and nickel, all of which are essential for electric vehicles. As Chinese companies ramp up production, the international market is experiencing an oversupply, leading to lower prices for raw materials, which in turn results in cheaper EV batteries and ultimately reduced vehicle costs.
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