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Lithium Prices Soar As Tesla, Apple And Google Fight For Supply

The electric vehicle (EV) revolution is gaining serious momentum.

According to experts’ projections, demand for electric vehicles should rise at a 21.1% Compound Annual Growth Rate (CAGR) until 2026.

The extraordinary demand that is forecast for EVs over the next five years has now begun to trigger a massive disruption in the global energy markets.

As demand for EVs continues to move higher, the demand for lithium – the critical component needed for the batteries that power all those EVs – is also projected to climb higher.



According to Roskill Information Services, “lithium chemical demand from end-use sectors is expected to increase year-on-year to around 280,000 tonnes lithium carbonate equivalent.”

These projections have already begun to have a profound impact on the price of lithium in the marketplace.

Lithium prices declined from 2018 through the end of 2020, but since December 1, 2020 the price of lithium has soared 71.24% -- and could be poised to climb even higher.


https://www.yahoo.com/finance/news/lithium-prices-soar-tesla-apple-000000850.html