Electric vehicles (EVs) have emerged as a promising low-carbon, sustainable transport alternative. Hence, the rising demand for EVs seems to have pushed the demand for lithium, a key component in EV batteries.
As per the US Geological Survey, lithium reserves produced an estimated world total of 100,000 metric tonnes in 2021, representing a steep increase in production.
With the growing demand for EVs giving a boost to production, the demand for lithium in the coming years is set to increase further.
The demand for lithium in 2021 was estimated to be 465,000 metric tonnes.
