Buying an EV? Sweden's plan to mine cobalt could make your purchase easier

Price of the mineral, a key input in electric vehicles, has tripled the past 2 years. Sweden seeks to pare global dependence on leading supplier Congo

Sweden will step up efforts to find minerals such as cobalt and lithium, key battery components that are increasingly in demand among makers of electric vehicles.

The government will invest 10 million kronor ($1.26 million) over the next two years to map the existence of minerals deemed important for future growth. While Sweden has a history of mining for base metals, the Geological Survey of Sweden, a government agency, believes there’s potential for expanding the output of more uncommon minerals like tungsten and rare earths.

“Sweden has unique assets in its bedrock,” Enterprise Minister Mikael Damberg said in