Featuring the Advantage of Lithium-Ion Powered Vehicles

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Electric vehicles (EVs) generally have a reduced climate impact compared to internal combustion engine vehicles. Together with technological progress and policymakers’ subsidies, this advantage led to a massive progression in the potential demand for EVs. The global fleet of light-duty EVs develops from nearly a few thousand just a decade ago to approximately 7.5 million vehicles in 2019. Yet, the global average market penetration of EVs is still just around 1.5% in 2019 and future improvement is anticipated to dwarf past development in absolute numbers.

Lithium-ion batteries (LIBs) are currently the dominant technology for EVs. Due to the fast emergence of the EV market, concerns over the sustainable supply of battery materials have been voiced. These include supply risks due to high geopolitical concentrations of cobalt and social and environmental impacts associated with mining as well as the availability of cobalt and lithium reserves and the required rapid upscaling of supply chains to meet anticipated potential demand. Understanding the magnitude of future demand for EV battery raw materials is essential to guide strategic decisions in policy and industry and to assess potential supply risks as well as social and environmental impacts. Furthermore, these other sectors’ lithium resource contains over 6.7 million tons of inferred lithium carbonate equivalent and has already been shown to be the 7th largest lithium resource on the planet. (1) Lithium exploration might be the answer to future EVs’ potential demand! Have you ever pondered why lithium production seems so pinned to EVs’ popularity? Read this brilliant article to get a ticket and unlock the world market’s lithium potentials!

Most experts agree that there is not an immediate shortage of lithium-ion batteries, but concerned parties might respond quickly to mitigate the possible effects. One reality is that many nations, including the United States, rely heavily on China to supply battery materials. A February 2021 executive order from The White House involves looking at current supply chain risks in the United States, then exploring measures to tackle those issues. Batteries were not the only goods mentioned in the document, but the content specified examining concerns associated with critical metals. Estimates suggest that China accounts for between more or less 70% and 77% of the world’s rare earth elements. Moreover, that country owns most of the processing facilities, even if the source material comes from other places.

As recently as 2019, people became particularly concerned about those realities when tensions between the U.S. and China occurred due to a marketing war. Experts suggest that building more battery factories in the U.S. is an actionable strategy for lessening the nation’s need for Chinese exports. Along with this, these other industries are one of the few that has both the resource and the technology to make lithium from direct brine processes with outstanding results that have the potential to produce battery quality lithium for batteries. (2) The world is taking steps to reduce emissions. Along with this, we need a sufficient supply of lithium to build high-quality electric cars for the global market! By choosing to drive an EV you could potentially help lessen harmful air pollution. Eager to unveil the unique extraction method of lithium-ion batteries? Let this page revive your perspective!

Given the magnitude of the potential battery material demand development across all scenarios, the global production capacity for lithium might have to emerge drastically. Miners of lithium could be essential these days. Lithium-ion-powered cars, on the other hand, might be the platform of choice on a global scale! Let’s try to dope out more ideas to rekindle your apprehensions. Check the disclaimer on my profile and landing page.

Source 1:
https://www.nature.com/articles/s43246-020-00095-x

Source 2:
https://www.globaltrademag.com/is-there-a-shortage-of-lithium-ion-batteries/