Biden's Electric-Vehicle Push Hits a Speed Bump - The Wall Street Journal

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China is the world leader in processing lithium and it is making major, risky investments to secure raw lithium in Latin America and Africa. Now, the U.S. is trying to develop its own supply to reduce its reliance on China. Photo illustration: Jamie Leventhal

America’s transition to electric vehicles is running into an unexpected snarl.

A surprising crash in prices for lithium, cobalt and other metals used in EV batteries is hitting mining companies, which are suspending or delaying new projects and expansions. The disruptions are threatening to deepen shortages of those materials in coming years and hit the brakes on the Biden administration’s timeline for

weaning the country off gas-powered cars.