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New warnings of battery supply issues for EVs

More than 200,000 EVs were sold in the first quarter of this year.

CHARLOTTE, N.C. — As the number of electric vehicles on the roads increases, there are new warnings of a battery supply scarcity.

Let's connect the dots.

The new president and CEO of Volvo cars, predicts a lack of battery supply will be a pressing issue for EVs going forward.

More than 200,000 EVs were sold in the first quarter of this year.

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In February, Volvo cars and battery maker Northvolt said they would build a battery manufacturing plant next year in Sweden.

The factory would supply enough batteries for half a million cars a year. But that might not be enough.

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Volkswagen's CEO said batteries could be a constraint for new electric vehicles over the next five to ten years.

He said there needs to be more energy and cell production, along with a large supply chain that still needs to be set up.

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The EV market is tightening, long-established automakers are hopping on the trend, which will lead to even more demand with little supply.

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