EV sales forecasts can’t go any higher – there won’t be enough lithium
As many long-time readers will know, we’ve been much more positive than consensus on the outlook for EV sales in the near-term and the mid-term. While we remain excited for the outlook for demand for EVs, we are becoming increasingly concerned about the industry’s ability to actually supply EVs. And that has absolutely nothing to do with the autos industry’s ability to build EVs but everything to do with the mining industry’s ability to supply the raw materials for EV batteries. We’ve considered the amount of raw materials needed to make EVs in the context of our lithium supply forecasts....