Good morning @Scarpa & @8horse ,
Great post as usual Scarpa, however I believe that both yourself and 8horse are looking at the wrong graph to begin with.
BNEF among other mainstream analysts, are notoriously & inherently conservative when it comes to new technology adoption rates, and I've explained the reasons for this in a previous post under the sub-heading 'Current EV sales forecasts from mainstream analysts are too conservative'
https://hotcopper.com.au/posts/39414154/single
If you look at BNEF's forecasted demand growth for 2019-2021 in their graph it is almost linear, however this is simply not representative of current trends in the real world IMHO.
For example, the June figures for European EV sales have just been reported and BEVs are up by over 100% YoY!!
https://insideevs.com/news/362020/june-2019-bev-sales-doubled-europe/
And although the tipping point for EVs in Europe is still to come (thought previously to be 2022-2025) new evidence suggests that this date will be brought forward to 2020 = next year!!
https://thedriven.io/2019/07/24/ele...s-europe-with-2020-seen-as-new-tipping-point/
And VW now expect EV sales in Australia (one of the last countries likely to fully embrace EVs IMO) to be 50% of all car sales by 2030!!
https://thedriven.io/2019/07/31/vw-expects-50-electric-car-sales-in-australia-by-2030/
Thus may I suggest that you derive your number of required 2mtpa and 5mtpa operations by using the below data from Benchmark Minerals. It is updated every couple of months to reflect current known build outs and the likely global impact over the next 8 years.
One can see that the above graph estimates that the world is on course to achieve 2000 GWh by 2028 ( 2 years earlier than BNEF's ultra conservative forecast). However you can see that Benchmark's own figure has increased by 50% in the space of just 7 months, and doesn't take into account recent developments (July) which I've added below.
https://insideevs.com/news/358947/lg-chem-increase-battery-sales-fivefold-2024/
Based on the above trends, I fully expect 2000GWh to be achieved by 2023-2024, and it won't be just EV driven. And as you can see from the below I am not alone in my thinking.
The only threat to the above battery capacity s-curve forecast that I foresee are the current bottlenecks in the battery supply chain. However I expect massive investment from Automakers, Government, Private Enterprise, Banks / Instos and even Big Oil to kick in and address these issues within 2 years.
So if we take the median forecast (i.e. between Benchmark's current forecast and my July update edit) of 2000GWh by 2026, then the no. of 2mtpa - 5mtpa operations in your spreadsheet will be required 4 years sooner than BNEF's forecast.
Hope this can add some perspective to your discussion.
GLTA
Cheers
Elpha
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