By stock_street_wire

Lithium Shortage Could Put the Brakes on EV Boom

The world is desperate for lithium supply.

In fact, according to CNBC, “Electric vehicle growth will be responsible for more than 90% of demand for lithium by 2030, according to Benchmark Mineral Intelligence. But lithium is also in our phones, computers, ceramics, lubricants, pharmaceuticals, and is essential for solar and wind energy storage.”

There’s just one problem.

At the moment, there’s far more demand for lithium than supply, which would explain why lithium prices are up about 280% over the last year. Even the IEA 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.”

Fortunately, there are companies that may be able to help, including Scotch Creek Ventures Inc. (CSE:SCV)(OTC:SCVFF), Ameriwest Lithium Inc. (CSE:AWLI)(OTC:AWLIF), American Lithium Corp. (TSXV:LI)(OTC:LIACF), Albemarle Corp. (NYSE:ALB), Lithium Americas Corp. (NYSE:LAC).

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