By 2025 , the demand for lithium will be 2017 times higher than five levels, according to Livent , CEO of lithium supplier Livent . With electric vehicle ( EV ) production expected to dramatically increase in 2025 and 2024 , there is a fear that producers of lithium, a key EV battery component, will not be able to keep up with demand. Investors looking at the currently flooded market have little confidence, as the element's value has declined in 2018 , resulting in a number of firms struggling to raise the necessary funds to expand.
By 2025, the demand for lithium will be five times higher than 2017 levels, according to Paul Graves, CEO of lithium supplier Livent. With electric vehicle (EV) production expected to dramatically increase in 2023 and 2024, there is a fear that producers of lithium, a key EV battery component, will not be able to keep up with demand. Investors looking at the currently flooded market have little confidence, as the element's value has declined in 2018, resulting in a number of firms struggling to raise the necessary funds to expand.