“We expect the market to be undersupplied with battery raw materials,” Julia Harty, Fastmarkets battery recycling analyst, said. While there are a number of lithium mine projects in the country, the fact that it takes between four and 20 years for a lithium mine to begin commercial production after an extractable source is identified is a big challenge in the rush to satisfy the needs of the rapidly growing EV industry. This is 1700% more than the lithium currently mined in the US. Meanwhile, the US government announced in August 2021 that it aims for half of the vehicles sold in the country to be EVs by 2030, which would require 90,000 tonnes of lithium by 2030. This is only around two-thirds of the amount needed to power the EVs currently sold in the US. Silver Peak, owned by Albemarle, produces about 5,000 tonnes of lithium carbonate equivalent (LCE) per year. The limited availability in the US of raw materials used in EVs is one of the main concerns behind the rush for recycling and reusing these materials.Īccording to the International Energy Agency (IEA), sales of EVs in the US reached 630,000 in 2021, which would require more than 7,560 tonnes of lithium.Īt present, there is only one active lithium mine in the country. The Energy Department said it was “committed to using a whole-of-government approach to securing a reliable and sustainable supply chain to improve America’s energy independence, strengthen national security and lower costs for working families.” The US government also announced investments in the field through the Bipartisan Infrastructure Law, with the Department of Energy declaring nearly $74 million in funding for 10 projects to advance EV battery recycling and reuse. ![]() ![]() Market participants and analysts agree that the industry is still in its infancy, with innovative ways to gain more efficiency being explored.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |