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There is nickel and lithium to manufacture 14 million electric vehicles in the world in 2023, according to Transport & Environment

Russia is the second largest oil exporter in the world and Europe is its main client, but as a result of the political conflict with Ukraine, some countries such as the United Kingdom have prohibited imports of this compound. As William Todts, CEO of Transport & Environment (T&E), reports, the solution to this situation should not be to look for another oil supplier, but rather to encourage the transition to electric vehicles.

Nickel and lithium are two essential metals for the manufacture of batteries for electric vehicles. The study carried out by T&E shows that there is enough material to produce a total of 14 million electric cars worldwide in 2023. In this way, the supply of raw materials of sustainable origin would be favored. In addition, it would be committed to saving energy and electrification, achieving alignment with the EU’s climate commitments.

However, these figures do not guarantee Europe’s supply as the world’s leading electric vehicle market. Growing electric vehicle sales in China and the US are increasing competition for critical raw materials. Both countries are introducing measures to guarantee access to key raw materials.

Julia Poliscanova, Senior Director of T&E, explains that “while China and the US are exerting their political muscle to secure supplies of critical metals, European leaders are scouring the world for more oil. Now is the time to focus on sourcing the sustainable raw materials the continent needs for our energy independence and green future.”

Lithium, a key material for electrification

Such is the dependence of the electric car on this material that, according to Credit Suisse in a recent study, the demand for lithium will triple by 2025. And it is not the only institution that says so. The World Bank points out that the automotive needs for this metal are going to be multiplied by five to achieve the decarbonization goals set for 2050.

The noticeable increase in demand will bring with it an increase in price. This is already a reality in China with growth of 313% in lithium carbonate; and 68% in lithium hydroxide in the last year. According to Nius Diario, the Macquarie banking entity indicates that “we believe that the lithium market will establish itself in a perpetual deficit in the long term” and also that this deficit “will increase significantly from 2027”.

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  • faconauto
  • Transportation & Environment
  • apmc

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