There is a limited global supply of Lithium for EV batteries.
Pent up demand for EVs caused by COVID now coming about.
Prompts more mining for lithium will be in Europe & U.S. starting to initial mine.
Presently every global operating mine is “sold out” for the future.
Trouble is much of American lithium is too expensive to pull out of the ground
The size, sources, & supply of lithium seems to be a “dirty little secret”
Conflicting reports on sourcing causing race to find a steady source of lithium
Lithium is the key component in rechargeable electric car batteries.
Almost every ounce of battery-grade lithium is imported to U.S. & Europe.
The U.S. goal for EV production prompts the urgency of getting a lithium supply unleashed in a mining boom.
Claims being made that the Race for “white oil” threatens to cause damage to the natural environment & price wars.
Lithium supply is set to triple by 2025.
Will the global electric vehicle market manage the supply & demands factors?
EVs are expensive because of the cost of the minerals that compose the batteries.
However, there maybe a solution.
Batteries can be recycled through smelting, direct recovery, & other means
Companies like Li-Cycle using advanced recycling technologies to recover up to 100 % of lithium.
Effort is to use old batteries to provide new products & services & to use recycled EV batteries to make new batteries.
The need for a low cost EV battery continues to be an industry challenge, even for Mighty Tesla.
Dozens of battery manufacturers around the world and at the OEMs are focused on using low-cobalt and cobalt-free battery chemistries & the use of chemical additives, materials and coating;
The high cost of an EV battery assembly and its replacement cost are impacting the sale of EVs, market penetration, and volume. The Pandemic has not helped.