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From politicians to environmental activists, many proclaim, "Electric is the future." The catchy phrase often refers to the shift from gas-guzzling cars to electric-powered ones.

It is true that once they hit the road, the vehicles do less harm to the environment than their gas-powered counterparts. But detractors point to the current process and components that make an electric car less than the fix-all solution it is touted to be.

The current generation of electric vehicles runs on lithium-ion and lithium-polymer batteries. These rechargeable, lightweight fuel cells are composed of different components than the internal combustion engine. The core components of EV batteries are elements and alloys like lithium, manganese, cobalt, graphite, steel, and nickel. The heightened demand for electric vehicles has driven the need for these rare earth minerals sky-high.