Lithium could be
in extremely short supply by 2030
Lithium is one of the key components in modern rechargeable batteries, thanks to its cost efficiency and high energy density - offering the most optimal trade-off between energy storage capacity and price.
Li-ion battery demand is expected to grow by 33 percent annually to reach 4,700 GWh by 2030.
The Government will put in place a sales mandate to ensure at least 20 percent of new light-duty vehicle sales will be zero-emission vehicles by 2026, at least 60 percent by 2030 and 100 percent by 2035.
Canada’s Critical Minerals Strategy is backed by nearly $4 billion in Budget 2022, setting out a course for Canada to become a global supplier of choice for critical minerals and the clean digital technologies they enable.
Li-ion battery demand
is expected to grow by 33 percent annually to reach 4,700 GWh by 2030.
A 2022 analysis by McKinsey & Co. projects that the entire lithium-ion (Li-ion) battery chain could grow by over 30 percent annually from 2022 to 2030, when it would reach a value of more than $400 billion and a market size of 4.7 TWh.