Pasted from Outsider Club today12 Feb 2019 07:31
U.S. Critical Shortages Now 4, 7, 8, and 19 Times Worse
Gerardo Del Real Photo By Gerardo Del Real
Written Feb. 11, 2019
According to Benchmark Mineral Intelligence, there are now 70 lithium-ion battery megafactories under construction across four continents, 46 of which are based in China, with only five currently planned for the U.S.
Simon Moores, managing director for Benchmark Mineral Intelligence, recently testified before the U.S. Senate Committee on Energy and Natural Resources.
Moores last testified in October of 2017, just over a year ago when the total number of megafactories was just 17.
Since that testimony in October of 2017, planned lithium-ion battery capacity in the pipeline for the period of 2019-2028 has risen from 289GWh to 1,549GWh (1.54TWh) in Benchmark Mineral Intelligence’s February 2019 Assessment.
This is the equivalent of 23-24 million sedan-sized electric vehicles.
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Moores testified that the megafactories are being built almost exclusively to make lithium-ion battery cells using two chemistries: nickel-cobalt-manganese (NCM) and nickel-cobalt-aluminium (NCA).
Moores went on to explain that lithium demand will increase by over eight times, graphite anode by over seven times, nickel by a massive 19 times, and cobalt demand will rise four-fold, which takes into account the industry trend of reducing cobalt usage in a battery assuming a 100% utilization rate where each plant scheduled is built and operating at full capacity.
Where will the supply come from? How will supply chains develop if companies and countries don’t accelerate their commitment to sourcing these materials?
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Lithium, cobalt, nickel, and graphite supply is necessary and, in the U.S. where its near non-existence is — pardon the pun — critical, if the U.S. is going to have a chair at the critical materials supply chain table.
There are opportunities but investment dollars have thus far been scarce and government, as always, has been slow to recognize the vulnerability and act with any kind of urgency.
Tesla is the sole U.S. lithium-ion battery manufacturing producer with its Nevada Gig
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