A sales boom in the worldwide market for electric vehicles (EVs) is putting pressure on lithium supplies for vehicle batteries. Bloomberg predicts a boost of 180% in global passenger EV sales, from 20 million in 2022 to 56 million by 2040, with 17% (9.6 million) to be sold in the US market alone. Meanwhile, US capacity for lithium-ion battery manufacturing was just 8% (59 GWh) of the 747 GWh global output, based on figures released by the White House in June 2021. This is forecasted to grow slightly to 9% (224 GWh) of global capacity (2,492 GWh) by 2025.
The Biden-Harris Administration admits the US “needs to move fast” and work with partners, such as Canada, to establish a competitive batteries supply chain. François-Philippe Champagne, Canadian Minister of Innovation, Science and Industry, says that “Canada has everything it needs to build the EVs and batteries that consumers are demanding.”
Li-Metal is a developer of technologies for next-generation batteries using innovative methods to cut down costs for vehicle battery production.