Lithium and nickel supply to bottleneck EV battery production

Benchmark warns that limited supply of key lithium-ion minerals will restrict battery supply chain build-out

Lithium and nickel supply to bottleneck EV battery production
Lithium-ion battery demand is projected to nearly quadruple by 2030

London-based battery supply chain analysis firm Benchmark Mineral Intelligence has a stark projection that lithium and nickel manufacturing will be unable to meet demand from battery producers, resulting in a bottlenecking of the industry’s growth.

According to Benchmark’s analysis, demand for lithium-ion batteries is expected to rise from 1TWh in 2023 to 3.7TWh by 2030, with the majority of this growth being “driven by an ever-increasing demand for EVs”. However, in order to achieve this scale, an additional $201bn is required to ramp up battery manufacturing efforts. The expansion of the global lithium industry needs $51bn alone to meet demand.


Register for full site access

Already have an account? Sign in

Great! You’ve successfully signed up.

Welcome back! You've successfully signed in.

You've successfully subscribed to EV inFocus.

Success! Check your email for magic link to sign-in.

Success! Your billing info has been updated.

Your billing was not updated.

Insider Focus LTD (Company #14789403)