Transport & Environment points out that There is enough lithium to manufacture 21 million electric cars by 2025, while by 2023 there is localized lithium in sufficient quantity to produce batteries for 14 million vehicles. Lithium is the most important component in an electric car battery, and its availability and supply will mark the future of the automobile industry in the coming years.
There are various entities and media that point out that there will not be enough lithium to sustain the paradigm shift that the mobility industry is undergoing, but now Transport & Environment, which has articulated your study Based on data from Bloomberg, he points out through his report that there is currently 55% more lithium than estimated, which does not mean that its supply is guaranteed.
At present, and only in Europe, there are 27 large lithium deposits located that are considered as potential mines of this precious material, and are distributed mainly in 9 countries; Czech Republic, Serbia, Ukraine, Spain, France, Portugal, Germany, Austria and Finland. In total, it is estimated that all these deposits add up to 8,839,750 tons of lithium oxide.
Even with this, and even with enough lithium and nickel located and available in the short term, the main obstacle for manufacturers of batteries for electric cars is to have access to it to buy it. In addition to social and political barriersAnother front that is opening up, and one that T&E intends to point out, is that mining companies may not be willing to increase available metal volumes. With this, what they would be achieving is minimizing the investment necessary to sell it on a larger scale while maintaining high profit margins.
To this we must add the various crises that the world is going through, and particularly Europe, in recent times. To this day, China continues to close factories due to COVID, while ultimately, due to Russia’s invasion of Ukraine, many supply chains have been affected, raising the cost of many key metals for all kinds of industries.
Transport & Environment also points out that the jump to the electric car is one of the best ways to penalize Russia and Putin, since a rapid electrification of the mobile fleet will reduce Europe’s dependence on Russian oil. Furthermore, according to T&E, 40% of the world’s palladium and 10% of the world’s platinum production are in Russiaand are key metals for emission control systems in diesel and gasoline cars.
Julia Poliscanova, Senior Director at Transport & Environment, comments in a statement regarding the study: “As China and the United States flex their political muscle to secure supplies of critical metals, European leaders scour the globe for more oil. Now it is time to focus on sourcing the sustainable raw materials the continent needs for our energy independence and green future.”
Previously, T&E itself classified the package of measures launched by the EU to mitigate the rise in fuel prices as a “subsidy to Putin”.