Lithium supply versus electric vehicle and battery demand
Remember that famous saying, “Water, water everywhere and not a drop to drink.” With respect to the lithium hydroxide that is preferred by EV manufacturers, currently there are parallels to that saying.
At Piedmont Lithium, we’re going to help change that. According to Bloomberg NEF’s Electric Vehicle Outlook, by 2025 EVs will hit 10% of global passenger vehicle sales, rising to 28% in 2030 and 58% in 2040. That’s fantastic for the industry and the planet, but you can’t have electric vehicles without lithium-ion batteries, and you can’t have batteries without, preferably, lithium hydroxide.
At the current projected pace, available hydroxide supply is being outstripped by electric vehicle demand.