RE: Demand16 Sep 2020 08:45
Big Demand for Lithium Could Soon Lead to a Sizable Supply Crunch
Lithium could easily run into a massive supply crunch – again. All thanks to electric vehicle (EV) sales that are growing much faster than anyone expected. In fact, according to a new study from the Boston Consulting Group, by 2025, EVs could account for a third of all auto sales. By 2030, EVs could surpass internal combustion engine vehicles with a market share of 51%. That could lead to a sizable spike in demand with lithium used in EV batteries.
Plus, experts now predict that by 2040, electric cars will make up 58% of the light vehicle market. And, according Resource World, “A recent report by Global Market Insights, Inc. concluded that the global lithium ion battery market is set to surpass US $60 billion by 2024 with a global market of 534,000 tonnes of lithium carbonate by 2025.” That, plus Tesla’s big appetite could see lithium prices explode again soon. With that, some of the top lithium companies to watch include E3 Metals Corp. (TSXV: ETMC)(OTC:EEMMF), Lithium Americas Corp. (NYSE:LAC)(TSX:LAC), Tesla Inc. (NASDAQ:TSLA), American Lithium Corp. (TSXV:LI)(OTC:LIACF), and Albemarle Corporation (NYSE:ALB).
https://www.pv-magazine.com/2020/09/15/how-long-will-the-lithium-supply-last/