Lithium is running into a severe supply-demand situation.
All thanks to electric vehicle (EV) demand growing much faster than anyone expected. “By 2030, the world will see 125 million EVs on the road, which will only drive further demand for lithium supply. In fact, “It is anticipated demand for vehicle battery metal will increase sharply over the next several years as automakers abandon internal combustion engines for EVs,” says Resource World. That’s great news for companies, like E3 Metals Corp. (TSXV:ETMC)(OTC:EEMMF),Albemarle Corporation (NYSE:ALB), Lithium Americas (NYSE:LAC)(TSX:LAC), American Lithium Corp. (TSXV:LI)(OTC:LIACF), and Piedmont Lithium (NASDAQ:PLL).
Even the International Energy Agency just warned, “The supply of critical minerals crucial for technologies such as wind turbines and electric vehicles will have to be ramped up over the next decades if the planet’s climate targets are to be met. At least 30 times as much lithium, nickel and other key minerals may be required by the electric car industry by 2040 to meet global climate targets.”