By Shane Lasley
Metal Tech News
Electric vehicles power lithium demand
In early phases of once-in-a-century demand transformation
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Last updated 7/10/2022 at 2:33pm
Tesla Inc.
Increased sales in electric vehicles is expected to drive a six-fold increase in the demand for the lithium that goes into the rechargeable batteries that power them.
Despite global mines supplying more lithium than markets demand and the effects COVID-19 is having on the worldwide economy, Morningstar Inc. sees the 2020s as being "a transformational decade for lithium, as demand will grow over six times 2019 levels."
This forecasted growth in lithium demand will be largely powered by an uptick in the adoption of electric vehicles and the lithium-ion batteri...
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