Overview

• Researchers warn that global lithium production will fall short of electric vehicle battery demand by 2030 in Europe, China and the United States.
• Europe is projected to face the largest deficit, requiring roughly 792,000 tons of lithium by 2030 but able to produce only 325,000 tons domestically.
• The United States and China could increase domestic output to about 610,000 and up to 1.1 million tons respectively but still risk shortfalls against anticipated needs.
• Current low lithium prices are discouraging investment in new mines that typically take five to fifteen years to reach production.
• Analysts recommend boosting mining capacity, expanding lithium recycling and pursuing sodium-ion battery technology to ease future supply pressures.