For context, in 2021 there were only 340 metal mines operating in Canada and the U.S. combined.
Identifying, planning and constructing a mine is a slow process. Lithium production timelines range from six to nine years, and for nickel 13 to 18 years — both elements are critical for EV batteries. Clearly, today’s aggressive government timelines for EV adoption clash with the realities of mineral mining.
The facts are undeniable. Governments can’t dictate consumer choices via mandate. The fantastic EV adoption timelines of the Trudeau government and other governments in the western world are increasingly out of touch with the realities of production and market demand.
These governments have overestimated their ability to shape the auto industry, which is why EV mandates will fail.
Julio Mejía and Elmira Aliakbari are analysts at the Fraser Institute.