×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: lithium battery demand | electric vehicle

Lithium Battery Demand to Surge Fivefold by 2030

Lithium Battery Demand to Surge Fivefold by 2030
Lithium battery storage (Dreamstime)

Wednesday, 15 February 2023 07:00 AM EST

Global demand for lithium batteries is expected to surge more than fivefold by 2030, public-private alliance Li-Bridge said on Wednesday, as more people opt for electric vehicles and energy storage systems.

Demand for lithium batteries in the United States is expected to grow more than six times and translate into $55 billion per year by the end of the decade, but still the country is expected to depend on imports for supply, the report added.

Li-Bridge works toward accelerating the development of a robust supply chain for lithium-based batteries and the coordination is led by Argonne National Laboratory, which is funded by the U.S. Department of Energy.

Demand for EVs has soared over the past few years, as climate-conscious consumers snap up cars with electric powertrains, amid soaring fuel prices.

Lithium batteries that would power a range of vehicles over the next few years will also be essential to military systems and consumer, medical, and industrial electronics.

According to the Li-Bridge report, under current conditions U.S. companies and workers will capture less than 30% of the value of cells consumed domestically.

"The lack of a substantial lithium battery supply chain in the United States and the lack of secure access to energy materials pose serious threats to U.S. national and economic security," Li-Bridge said.

© 2023 Thomson/Reuters. All rights reserved.


StreetTalk
Global demand for lithium batteries is expected to surge more than fivefold by 2030, public-private alliance Li-Bridge said on Wednesday, as more people opt for electric vehicles and energy storage systems.
lithium battery demand, electric vehicle
214
2023-00-15
Wednesday, 15 February 2023 07:00 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved