Lithium Markets Rise in Preparation for EV Battery Production | 5 Key Players to Watch for Lithium in 2022
The other day, a public transit company in Montpellier, France, made the decision to go “all-electric” after concluding that hydrogen would cost up to six times more than operating on battery power. To do so, they’re canceling a 51-bus contract already in motion.
Many companies are making the switch from hydrogen and gas to electric for mobility. And, that’s not to say hydrogen isn’t a viable option because there are indeed many perks to using hydrogen over electric, as well as the combination of both under certain applications.
But as EV adoption continues to grow, so does the need for lithium. And unfortunately, some experts are projecting a slowdown in EV production without the available lithium necessary to create each battery going into 2030 and in some situations, global EV production will be delayed until at least 2023.
As lithium production continues to accelerate, there’s a major risk in store for companies whose demand outweighs supply availability. Not only this, but some of the more prominent manufacturers like Ford, who expects to produce no less than 150,000 electric trucks a year, and its battery partner, SK Innovations — or General Motors and its battery manufacturer, Ultium Cells LLC — may…