According to data, there will be enough nickel and lithium to make up to 14 million electric cars (EVs) globally in 2023, thus Europe should acquire more raw materials to accelerate the transition away from oil, according to advocacy organisation Transport and Environment (T&E).
T&E estimated that there will be enough nickel and lithium for 21 million electric vehicles in 2025, based on BloombergNEF statistics on worldwide maximum volumes of EV battery-grade nickel and lithium.
T&E estimates that there will be enough raw materials for 19 million electric vehicles in 2025, excluding Russian nickel.
From just over 2 million vehicles in 2020, global EV sales more than doubled to 4.2 million in 2021.
Global EV sales are expected to reach 9 million in 2023 and 14.2 million in 2025, according to automotive consultancy LMC.
Prices of EV battery components have risen dramatically in recent months, with battery-grade nickel setting new highs following Russia's invasion of Ukraine, as the country is a significant nickel producer.
Short-term battery supply shortages are expected as the auto industry ramps up production of zero-emission vehicles, according to some experts, which could be followed by a glut when a slew of new mining and battery plant projects come online.
Lithium and nickel are in high demand, according to T&E, and both China and the US have been striving to assure access to those raw resources.
Europe should follow suit and create an agency to guarantee the supply of "sustainable sourced key metals."
"While China and the U.S. are flexing their policy muscle to secure supplies of critical metals, European leaders are scouring the globe for more oil," said T&E senior director Julia Poliscanova. "Now is the time to focus on sourcing the sustainable raw materials the continent needs for our energy independence and a green future."
(Source:www.nasdaq.com)
T&E estimated that there will be enough nickel and lithium for 21 million electric vehicles in 2025, based on BloombergNEF statistics on worldwide maximum volumes of EV battery-grade nickel and lithium.
T&E estimates that there will be enough raw materials for 19 million electric vehicles in 2025, excluding Russian nickel.
From just over 2 million vehicles in 2020, global EV sales more than doubled to 4.2 million in 2021.
Global EV sales are expected to reach 9 million in 2023 and 14.2 million in 2025, according to automotive consultancy LMC.
Prices of EV battery components have risen dramatically in recent months, with battery-grade nickel setting new highs following Russia's invasion of Ukraine, as the country is a significant nickel producer.
Short-term battery supply shortages are expected as the auto industry ramps up production of zero-emission vehicles, according to some experts, which could be followed by a glut when a slew of new mining and battery plant projects come online.
Lithium and nickel are in high demand, according to T&E, and both China and the US have been striving to assure access to those raw resources.
Europe should follow suit and create an agency to guarantee the supply of "sustainable sourced key metals."
"While China and the U.S. are flexing their policy muscle to secure supplies of critical metals, European leaders are scouring the globe for more oil," said T&E senior director Julia Poliscanova. "Now is the time to focus on sourcing the sustainable raw materials the continent needs for our energy independence and a green future."
(Source:www.nasdaq.com)
