The electric car boom risks being stalled by a severe shortage of a crucial ingredient used in batteries within the next decade, analysts have warned.
Car makers will face production delays on millions of electric vehicles as mining for lithium fails to keep pace with soaring demand, according to Rystad Energy.
Mining capacity can cope with current demand in electric vehicles, but car makers will face “a serious lithium supply deficit” from 2027, the energy research firm predicted.
Everyone and their mother is trying to extract lithium currently. Lithium mines are actually going bust so many are trying to open.
Seriously, the prospect of high profits is quite enough to get people digging holes in the ground. Which is why I could list 20 such projects in embryo at least 10 of which will themselves go bust as extra supply far outstrips future demand.