Panic over metals for EVs goes all the way to automakers' C-suites

The merry-go-round of private meetings at an annual mining industry conference at Florida’s Hollywood Beach had a cast of new faces this year: auto sector executives increasingly anxious about surging prices and tighter supply of metals used in electric vehicle batteries.

Tesla, Ford Motor and Mercedes-Benz Group were among automakers which sent senior staff to mingle with about 1 500 delegates at the BMO Global Metals & Mining Conference, an event normally attended mainly by iron ore and aluminum producers. Their presence underscores the growing popularity of battery-powered cars, helped by a global push toward clean energy, which is estimated to require $10-trillion worth of metals through 2050, according to BloombergNEF.