Electric cars slowed down?

Important raw materials are in danger of becoming scarce

Created: 05/17/2022, 11:57 am

By: Marcus Efler

There are many coveted raw materials in the batteries of electric cars.

Lithium is particularly important – according to a new study, it could soon become scarce.

Hamburg – Electromobility hardly seems to be slowing down: Global sales of e-cars have doubled in the past year and have now reached a share of eight percent.

And a further significant increase is to be expected for the next few years.

But the boom could soon reach its limits.

This is not only because the charging infrastructure may not be able to keep up, but also because the raw materials that are important for batteries, such as cobalt, are running out.

Manufacturers like Tesla are taking countermeasures with new battery technologies, but they cannot do without the coveted lithium.

A battery of a Tesla Model Y: It doesn't work without lithium.

© Patrick Pleul/dpa-Zentralbild/dpa

Electric cars slowed down?

Important raw materials are in danger of becoming scarce

A new study by the credit insurer Allianz Trade (as well as Stellantis boss Carlos Tavares) warns that there could soon be bottlenecks with this material in particular.

The analysts predict that there is a risk of a "supply gap" and call for greater commitment from the industry in the supply of raw materials and production capacities for batteries.

The hunger of the automotive industry for the raw material lithium, which has become so important for it, is increasing rapidly: While in the 2010s the lithium demand for batteries accounted for around a quarter of the total demand, by 2030 it is expected to be 95 percent.

Electric cars slowed down?

500,000 tons of lithium could soon be missing

With the projected increase in demand for electric cars, the study could be missing 500,000 tons of lithium within this decade.

According to the authors, it is therefore crucial that the industry now sets the course to close a supply gap of this magnitude.

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Although car and battery manufacturers are now working on completely new storage technologies such as solid-state batteries, these still contain lithium.