Could the EV boom run out of juice before it gets going?

Prices of battery metals have spiked (Image: Getty)

Tue, 28 Feb 2023

Electric vehicles (EVs) appear unstoppable. Carmakers are outpledging themselves in terms of production goals. Industry analysts are struggling to keep up. Battery-powered cars may zoom from 10% of global vehicle sales in 2021 to 40% by 2030, according to BloombergNEF. Depending on whom you ask, that could translate to between 25 million and 40m EVs a year. They, and the tens of millions manufactured between now and then, will need plenty of batteries. Research firm Bernstein reckons that demand from EVs will grow six-fold by 2030 (see chart 1)...

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