Thanks to both the increasing popularity of EVs and continued growth in consumer electronics, the demand for lithium batteries is on pace to far outstrip the capacity of current rare-earth metal mines.
The earth has more deposits of lithium, but bringing mines online is complicated and expensive.
As of now, analysts don’t expect the lithium shortage to be over by mid-decade.
“So the anticipated decrease well below US $100 or Euros per kiloWatt, that might take longer,” Schäfer said.
“The chemistry, honestly, if we’re staying with the ingredients we have today . . . there’s not that breakthrough foreseeable.”