The US and its allies, such as Canada, the UK, the European Union, Australia, Japan and South Korea, face a dilemma when it comes to the global electrification of the transportation system.

It did not take long for COP26 to turn into a farce with UN Secretary General António Guterres pleading with the gathered highnesses and excellencies to declare enough is enough.

EV battery costs were approaching parity with gas-powered cars, but Benchmark believes decline may be at an end as lithium prices surge 313% in a year and cobalt, nickel prices jump.