Data shows there is enough nickel and lithium to produce up to 14 million electric vehicles (EVs) globally in 2023, so Europe should secure more raw materials to shift away from oil faster, campaign group Transport and Environment (T&E) said on Tuesday.
In a study based on BloombergNEF data on global maximum volumes of EV battery-grade nickel and lithium, T&E said that in 2025 there would be enough to make 21 million EVs globally.
Automotive consultancy LMC has forecast global EV sales will hit 9 million in 2023 and 14.2 million in 2025. Some analysts have warned of short-term battery-supply bottlenecks as the auto industry rapidly accelerates production of zero-emission cars, which could then be followed by a glut as a plethora of mining and battery plant projects come online.
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