UK Electric Cars. Sales Uneconomic, page-21

"Battery tech is rapidly improving"
Already many battery chemistries exist (e.g some don't need cobalt) the range of the batteries are improving
We are a long way off running out of these minerals but such as been the exponential growth that the mines have had trouble catching up
just a couple of years ago there was a bit of an over supply of Lithium, so commodity cycles apply but perhaps with bigger swings