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The strategic role of critical minerals in electric vehicle production

Author

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  • Miuc Tomi

    (University of Ljubljana, School of Economics and Business, Kardeljeva ploščad 17, 1000 Ljubljana, Slovenia)

  • Švigelj Matej

    (University of Ljubljana, School of Economics and Business, Kardeljeva ploščad 17, 1000 Ljubljana, Slovenia)

Abstract

Electric vehicles (EVs) play a central role in global strategies to reduce carbon emissions. However, their production depends on a range of critical minerals such as lithium, cobalt, nickel, graphite, and rare earth elements, which are largely sourced from geopolitically sensitive regions, including the Democratic Republic of Congo, Chile, and China. This paper analyzes the mineral supply chain challenges associated with EV production, focusing on economic, environmental, and geopolitical risks. The growing demand for EVs has exposed vulnerabilities within mineral supply chains, including the regional concentration of resources, price volatility, and unsustainable mining practices. These pressures are further amplified by competition from other industries dependent on the same raw materials. The study emphasizes the need for a multidimensional response incorporating recycling, technological innovation, ethical sourcing, and international policy coordination. Ensuring a resilient and sustainable mineral supply chain is essential for supporting the continued growth of electric mobility while minimizing broader environmental and social impacts.

Suggested Citation

  • Miuc Tomi & Švigelj Matej, 2026. "The strategic role of critical minerals in electric vehicle production," WSB Journal of Business and Finance, Sciendo, vol. 60(2), pages 29-37.
    • Handle: RePEc:vrs:wsbjbf:v:60:y:2026:i:2:p:29-37:n:1003
    DOI: 10.2478/wsbjbf-2026-0011
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