NORMAL, Ill.—Rivian Automotive Inc. Chief Executive RJ Scaringe is warning that the auto industry could soon face a looming shortage of battery supplies for electric vehicles—a challenge that he says could surpass the current computer-chip shortage.
Car companies are trying to lock up limited supplies of raw materials like cobalt, lithium and nickel that are key to battery making, and many are constructing their own battery plants to put more battery-powered models in showrooms.
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