The World is in Desperate Need of Lithium

The world is running into a severe supply-demand situation with lithium.

All thanks to electric vehicle (EV) sales that are growing much faster than anyone expected.

By 2030, the world will see 125 million EVs on the road, which will only drive further demand for lithium supply.  In fact, “It is anticipated demand for vehicle battery metal will increase sharply over the next several years as automakers abandon internal combustion engines for EVs,” says Resource World.

Unfortunately, there’s just not enough lithium supply.

Even the International Energy Agency just warned:

“The supply of critical minerals crucial for technologies such as wind turbines and electric vehicles will have to be ramped up over the next decades if the planet’s climate targets are to be met. At least 30 times as much lithium, nickel and other key minerals may be required by the electric car industry by 2040 to meet global climate targets.”

In addition:

  • Today’s lithium market is roughly 350,000 tonnes and forecast to grow to roughly to one million tonnes in size by 2025, the capital to feed this growth in the supply chain needs to be raised and invested today — not in two or three years.
  • Decarbonization has become the polarizing trend ensuring 2021
  • The key to Energy Transition: security of supply of raw materials, in particular high-purity lithium.
  • The market is scrambling to identify quality lithium resources as governments work to develop homegrown lithium supply chains and develop subsidy programs.