Electric vehicle lithium battery reserves

Are lithium batteries the future of electric cars?

As electric vehicles are projected to account for over 60% of new car sales by 2030, the demand for high-performance batteries will persist, with lithium playing a key role in this transition, even with the development of alternatives to lithium-ion batteries, such as sodium and ammonium-based technologies.

Are electric vehicles affecting global lithium supply?

But rising demand for Electric Vehicles is straining global lithium supplies. Global EV purchases jumped to 6.6 million in 2021 from 3 million a year earlier, meaning that EVs made up 9% of the market, according to the International Energy Agency (IEA).

Will EV batteries increase the demand for lithium batteries?

Improvements associated with these technologies may increase both the market share of lithium batteries as well as the average size (kW h) of EV batteries, resulting in an overall increase in annual demand for lithium as per Eq. (3.3).

Can lithium power EV batteries?

The answer to the question is lithium, and the bad news for the world is that it potentially has nowhere near enough of it to power all the electric vehicle (EV) batteries it wants – and needs. Lithium is a non-ferrous metal known as “white gold”, and is one of the key components in EV batteries, alongside nickel and cobalt.

Is lithium a 'white gold' EV battery?

Lithium is a non-ferrous metal known as “white gold”, and is one of the key components in EV batteries, alongside nickel and cobalt. But rising demand for Electric Vehicles is straining global lithium supplies.

Does Lithium availability affect EV demand?

A number of authors have explored the relationship between lithium availability and EV demand, ranging from pessimistic studies that suggest future EV demand cannot be met by lithium supply , , to optimistic studies that find no significant constraint to ambitious EV market development projections .