A Call for Lithium Supply is Scorching Hot
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As automakers continue to grapple with a semiconductor shortage, some experts say the next supply chain crisis for the U.S. could involve lithium-ion batteries. As industries like GM, Ford and a slew of industries’ beginnings develop a great potential for their electric vehicle ambitions, current battery production in the U.S. won’t be able to supply the required needs for lithium. Though the U.S. has a handful of large-scale battery manufacturing facilities, including Tesla’s Gigafactory that operates in partnership with Panasonic, a reciprocity dispute between two Korean battery makers, LG Chem and SK Innovation, threatens the future of a new battery factory in Georgia. Until recently, a call for lithium has been low, with only five mines developed globally in the past two decades.
However, by 2030, the world could see potential 125 million EVs on the road, only driving further calls for lithium supply. Until recently, a call for lithium has been low, with only five mines developed globally in the past two decades. However, by 2030, the world could see roughly 125 million EVs on the road, only driving further calls for lithium supply. (1) Watch out for some exciting updates about lithium supplies. Let’s learn something here about what needs to happen in order to avoid a bottleneck in EV production!
In addition, those numbers mentioned above push for a more sustainable solution for pollution-driven infrastructure. With the build back better policy, it could promote clean energy generation and employment potentials. The goal is to reach carbon neutrality in the future. Achieving this goal requires the development of a renewable energy electric grid. When sourcing approximately 100% of our energy from non-carbon emitting sources, we could significantly reduce the enhanced greenhouse effect and climate change. Establishing the transition towards a clean electric grid required our adoption of large scale lithium ion batteries. As decarbonization has become the polarizing trend of 2021. The key to energy transition might be security of supply of raw materials, in particular high-purity lithium.
The market is scrambling to identify quality lithium resources as governments aim to develop homegrown lithium supply chains and develop subsidy programs. That’s where lithium industries could play a critical role. Especially when you consider its robust operations in Nevada- arguably the hottest North American jurisdiction for lithium exploration. (2) Various high-emission industries must adopt alternative fueling methods, significantly reducing global carbon emissions. As the clean energy revolution requires residential and commercial adaptation and cooperation, read this link to find out what fuel drives electric cars and how it could be used in the future!
Nowadays lithium is used in many fields. A drastic development in lithium needs and hence an impending supply shortage was predicted in the media due to the usage of this element in electric vehicle batteries (EVB). The main problem in lithium supply is that suppliers are not able to instantly react to the spiraling needs as the production capacities take a lot of time and money. A lithium shortage would hinder the substitution of traditionally fueled cars for electric cars. Luckily, these other lithium mining industries could play a critical role. Especially when you consider its robust operations in Nevada- arguably the hottest North American jurisdiction for lithium exploration. In this report, we could tackle the scenarios for the future lithium market development. We could use this report’s scenarios to evaluate the consequences of possible future market outcomes. Check the disclaimer on my profile and landing page.
Source 1: https://www.cnbc.com/2021/04/08/the-us-is-facing-a-lithium-ion-battery-shortage-with-ev-growth.html
Source 2: https://www.altenergymag.com/story/2021/06/why-lithium-ion-batteries-are-trending-in-the-energy-sector-right-now/35290/
