Are minerals the new oil? Mitigating supply risk of lithium-ion batteries

Abstract

The aim of this study is to identify suitable strategies toward securing continued access and availability of electric vehicle (EV) lithium-ion batteries (LIBs) containing critical raw materials in the near and far futures. As LIBs play a significant role across several industries, and ensuring the availability of critical raw materials is also a strategic issue in terms of the national security of supply, the research objective is approached in this study within the national scope of the broader supply system. Through the case study of the Finnish EV LIB value chain, this study explores supply risk mitigation through circular business model strategies.