good reading23 Feb 2021 10:04
Editor OilPrice.com, Oil Price
Feb. 22, 2021, 06:00 PM
The electric vehicle (EV) revolution is gaining serious momentum.
According to experts’ projections, demand for electric vehicles should rise at a 21.1% Compound Annual Growth Rate (CAGR) until 2026.
The extraordinary demand that is forecast for EVs over the next five years has now begun to trigger a massive disruption in the global energy markets.
According to Roskill Information Services, “lithium chemical demand from end-use sectors is expected to increase year-on-year to around 280,000 tonnes lithium carbonate equivalent...
and ....
(Bloomberg) -- Albemarle Corp. has earmarked almost all the proceeds from a $1.5 billion equity offering to expand its lithium capacity as the global battery boom gathers momentum.
Already the world’s biggest lithium supplier, the Charlotte, North Carolina-based company will allocate about 90%, or $1.35 billion, of a bigger-than-planned capital raise to expand operations in Chile and Australia and processing plants in China, Chief Executive Officer Kent Masters said.
Producers of the key ingredient in rechargeable batteries are starting to ramp up amid signs the market is finally recovering from a glut. Chinese spot prices of the soft, slivery white metal have rebounded this year as a wave of green-vehicle targeting boosts demand prospects. Ford Motor Co. announced last week that its passenger-vehicle range will be all-electric in Europe by 2030. General Motors Co. plans to sell only zero-emission models by 2035.
“It’s difficult to predict, but we’re pretty confident that demand will outstrip supply as we get to the end of the year,” Masters said in an interview.
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