Lithium Space, page-13

Lithium Spot Price
Since late 2015, the lithium spot price has taken off moving from USD 5,000-6,000 per metric tonne to today's price range of USD 13,000-22,000 per metric tonne. The range is there because there is no exact pricing mechanism, and electric vehicle companies especially in China are paying high prices to source lithium to feed the booming EV industry.

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Lithium Supply And Demand
The lithium spot price is rising and reflecting the increase in demand. "Mr. Lithium," Joe Lowry, reports $20,000 per metric tonne in China, stating "the lithium shortage is real."
Right now, electric vehicles make up just over 0.5% of global new car sales, however, they are growing at 50% pa. You can read about this here in my previous article "Electric Vehicles Will Most Likely Be The Next Big Thing." Goldman Sachs in its article "Lithium is the new gasoline" states, "total lithium demand today is 160,000mT of lithium carbonate equivalent (LCE) per year. We estimate that a 1% battery electric vehicle penetration would increase lithium demand by 70,000mT of LCE/year (or roughly half of current global demand for lithium)." Stating another way, a 2% increase in EV market share would require a doubling of lithium supply.