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Technology Today - Why Lithium Supply Will Keep Growing Along With Rising Electric Vehicle (EV) Demand
Technology Today
EVs (Electric Vehicles) are popping up around the world, powering a variety of EV's. A recent article noted that one of the stranger sights in London and many cities around the world during the COVID-19 lockdowns has been adults whizzing around the empty streets on what was once seen as a child's toy: a scooter. A 2019 report estimated that demand for electric bikes and scooters would have a compound annual growth rate of 8% through to 2030. Anecdotal evidence suggests COVID has dramatically increased demand. One UK retailer has said demand has tripled. Many of these new modes of transport are powered by the lithium-ion battery. Lithium, the world's least dense metal (Atomic number 3) is also integral to powering the digital economy – mobile phones, tablets and laptops. But the biggest potential use for lithium-ion battery packs is in EVs. Analysts at Citi predict that 75% of all mined lithium will go into EVs by 2025. But cars will be the segment to focus on. Car manufacturers have been working on a rapidly emerging new battery technology, however. Lithium will continue to play a central role. Solid state lithium batteries use a solid material rather than a potentially combustible gel. These materials are neither volatile nor combustible. The higher energy density would increase the range of EVs by between one-third and a half with the same battery weight as a lithium-ion battery.
Lithium may also have a future role to play in the Holy Grail of cheap, limitless, zero carbon energy: nuclear fusion. Teams around the world are working on tokamaks. This is a magnetic confinement device designed to produce controlled nuclear fusion. The most ambitious project is the International Thermonuclear Experimental Reactor being built in France. Its target is to generate 500MW of electricity by 2035. It may take a while for solid-state batteries to be fully commercially viable. Tokamak fusion reactors are still a relatively distant prospect. However, the central role lithium will play both in the batteries that power our tech, and increasingly our cars, will ensure its relevance for many years to come. China sees it as strategically important and has been securing its supply chain. In May 2018, Tianqi Lithium paid $4.1 billion to buy a stake of just under 25% in Chile's SQM, the world's second largest producer.
Nader Vatanchi CEO commented, "I'm delighted with the progress our team has made and look forward to the brine analysis results from the deep drilling at Candella II next week."
Other recent developments in the lithium/battery, EV markets include -
Tesla's recent remarks say that the Company makes electric vehicles with some of the longest range in the industry, but even the top range on its best cars isn't enough to persuade everyone to drive on electricity.
The Driven has shared documentation from Chinese authorities that show Tesla could be working to make a Model Y with far more range than what's on offer today. The document lists a range of 640km, which is equivalent to almost 400 miles of all-electric range. This would put the Model Y on par with Tesla's Model S, and even surpass the currently advertised range on the 0,000 Model X.
Fisker – passionate creator of the world's most sustainable electric vehicles and advanced mobility solutions – recently announced it is joining forces with renowned racing driver, Abbie Eaton. One of 18 drivers competing in the 2021 W Series Championship, Abbie will work closely with Fisker's engineering and product development team, focusing on chassis and vehicle dynamics on the Fisker Ocean SUV program and other vehicles to follow.
Fisker announced it is joining forces with renowned racing driver, Abbie Eaton. One of 18 drivers competing in the 2021 W Series Championship, Abbie will work closely with Fisker's engineering and product development team, focusing on chassis and vehicle dynamics on the Fisker Ocean SUV program and other vehicles to follow.
NIO, a pioneer and a leading company in the premium smart electric vehicle market in China, recently announced its unaudited financial results for the second quarter ended June 30, 2021.
"We achieved a record-high quarterly delivery of 21,896 vehicles in the second quarter of 2021, followed by 7,931 vehicles in July, bringing the cumulative deliveries of NIO vehicles to 125,528 as of July 31, 2021," said William Bin Li, founder, chairman and chief executive officer of NIO. "While the global supply chain still faces uncertainties, we have been working closely with our partners to improve the overall supply chain production capacity. Encouraged by the growing user demand, we remain committed to further expanding our power network, increasing our service and sales coverage, and more importantly, accelerating our product and technology development.
Lucid Group, which is setting new standards with its advanced luxury EVs, recently announced that the limited-run Lucid Air Dream Edition will be produced in two distinct versions – the Dream Edition Performance and the Dream Edition Range – each highlighting a different facet of this exceptional electric luxury sedan.
Dream Edition Performance will feature a power train optimised for speed and acceleration, with 1,111 horsepower. Dream Edition Range will deliver 933 horsepower while embodying Lucid's exacting focus on maximizing range1. EPA range certification is currently in process and will be announced for each version of the Dream Edition when complete. Although the official EPA ranges are not yet available, Lucid recently completed a real-world evaluation drive with Motor Trend. During the drive, a pair of Dream Edition Range cars drove from Los Angeles to San Francisco at highway speeds via central California, and then back across the San Francisco Bay to Lucid's global headquarters, traveling 445 miles on a single charge. Upon arrival, the cars displayed, respectively, 30 miles and 72 miles of charge remaining (for totals of 475 and 517 miles).