Europe’s transition to electric cars is under threat because of persisting shortages of lithium, the key battery component that will power the vehicles of the future.
EU plans to ban sales of new petrol and diesel cars by 2035 mean demand for lithium is set to surge fivefold by 2030 to 550,000 tonnes per year — more than double the 200,000 tonnes the region will be able to produce, according to Benchmark Mineral Intelligence.
“The whole global market is still set to be in a deficit by the end of the decade,” said Daisy Jennings-Gray, analyst at Benchmark Mineral Intelligence.
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