We May Not Have Enough Minerals To Even Meet Electric Car Needs
Electric cars have become very popular in the past years. With prices becoming lower and people getting tired of shelling out big money at the gas pump, more and more people are putting their savings into being an electric car instead of a gas car. As tech advances, it has become much easier to produce electric cars which make the price go down to own one. But one big problem that has arrived is that these electric cars need pretty advanced high-grade batteries. These batteries rely on precious metals such as gold and silver to operate in an efficient way to be able to run a car from point A to point B. One question that car makers are starting to think about is a simple but at the same time very complicated question: As the demand for electric cars go up and the price of them goes down, we are going to need more high-grade batteries to supply to this demand. Do we have enough precious metals to build these batteries?
The problem with precious metals is that they are a non-renewable resource which means that someday they will run out. To obtain these metals serious mining needs to the completed deep underground which often is dangerous and not very good for the environment. Car makers and miners are going to have to figure out a new way to find these precious metals because it is very clear what will happen if they do not. If the business can not supply the demand, they lose money, which then turns into losing profits, which then turns into companies failing. No one wants that. With the price of precious metals increasing as well, a solution needs to be created to fill the need for precious metals. One thing is for certain, and that is this problem is not going away anytime soon.