Lithium-ion Battery Demand Growing
- Apr 10, 2018-
Lithium-ion battery demand growing
In recent years, the demand for all materials related to the lithium-ion battery have surged. As several countries in Europe plan to ban automobiles fuelled by fossil fuels by 2040, automakers have been lining up to get their hands on the lithium-ion batteries required to power their electric vehicle models. This has driven up demand and speculation as to the demand for these materials in the coming years. Of course, one of these materials is cobalt. From the NMC battery to the NCA to the LCO, cobalt is one of the main components of several of the lithium-ion batteries on the market.
Now, with all these automakers queuing up, many worry that the demand may outgrow the supply. It’s estimated that by 2023, there may be a shortage in cobalt.