Supply chain bottleneck strangling scale-up of lithium-ion battery production for EVs
“Battery demand increased four-times and it drove that price very high because the producers couldn’t react, as it’s only a 300,000-tonne industry per year.
“They’re slow to react, inflexible, and maybe didn’t want to over-invest without knowing whether this is real.
“We believe lithium is going to be short this year and this price spike will happen again both this year and next.
“There hasn’t been enough investment and this, in a nutshell, is the problem with these raw material industries.”
He added that if all the planned megafactories come online at full utilisation, they will require 1.9 million tonnes of lithium, but only 390,000 tonnes is currently produced – with a similar story for nickel, cobalt and graphite.
“There will be an increase of between five and 10-times within an eight to 10-year period.
Supply chain bottleneck strangling scale-up of lithium-ion...
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