Analysts predicted that the number of electric vehicles in the coming years will increase significantly, especially in China. However, the boom occurs. On the contrary, reduction of demand for new cars.
But the extraction of lithium is increasing. So, only in Australia from 2017 appeared six new mines. And China recently announced a reduction of cost of production of lithium, which clearly will have a greater pressure on the business for the extraction of lithium.
Therefore, it is expected that soon we will see a decline in production of batteries, which, in turn, will slow the expansion of the electric car market.
About concrete figures to speak still too early. However, it’s clear that many manufacturers will try to find a balance between supply and demand.
The annual output of factories for the production of lithium-ion batteries by 2023 could reach 1000 GW*h With more than two thirds of the production capacity will be concentrated in China. 1,000 GWh is 20 million electric cars with an average battery size 50 kWh So the annual output is theoretically possible with the implementation of the stated plans of the company for the establishment/expansion of industries.
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