Lithium is running into a severe supply-demand situation.
The last time this happened, some of the world’s top lithium companies exploded. Albemarle ran from approximately $45.60 to approximately $137. Lithium Americas Corp. ran from approximately 93 cents to approximately $10.38. Galaxy Resources Ltd. ran from approximately 15 cents to approximately $2.75.
Now, it’s happening all over again.
All thanks to electric vehicle (EV) sales that are growing much faster than anyone expected.
“By 2030, the world will see 125 million EVs on the road, which will only drive further demand for lithium supply. In fact, “It is anticipated demand for vehicle battery metal will increase sharply over the next several years as automakers abandon internal combustion engines for EVs,” says Resource World.
However, there’s just one problem. There’s not enough lithium supply.
Even the International Energy Agency just warned:
“The supply of critical minerals crucial for technologies such as wind turbines and electric vehicles will have to be ramped up over the next decades if the planet’s climate targets are to be met. At least 30 times as much lithium, nickel and other key minerals may be required by the electric car industry by 2040 to meet global climate targets.”
The post The World is in Desperate Need of Lithium first appeared on Small Cap Firm.
The post The World is in Desperate Need of Lithium appeared first on Small Cap Firm.