Electric cars to account for 79% of lithium demand by 2030 – Chile
Thursday, August 27th, 2020
Cochilco said demand for lithium for electric vehicles had been muted this year because of the coronavirus pandemic, expected at around 75 000 t, but would surge to 1.4-million tonnes by 2030.Meanwhile, demand not associated with electromobility but with cell phones and other consumer goods would reach 377 000 t in 2030, compared with the 242 000 t expected for this year.
Lithium prices have been on a steady decline in recent years amid festering global trade tensions, the scaling back of electric vehicle subsidies in China and a wave of new production. The coronavirus pandemic and associated economic downturn has clouted demand, prompting some miners to put off near-term investments.
It foresaw Australia and Chile maintaining by slimmer margins their leads in production, with growing competition from the United States and Argentina reducing Australia’s global supply from 48% today to 31% by 2030, and Chile’s from 29 to 17%.
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