Electric Vehicle (EV) manufacturers say that they are falling behind on production and attribute recent delays on a lack of available lithium supplies critical to their battery production.
The demand for the shiny white mineral has lithium companies jumping to create greater supplies. Lithium has been in higher demand than ever over the past few years, and much of the demand can be attributed to electric vehicle producers, who use lithium as a material in their rechargeable batteries. The demand continues to grow, and a shortage is on the brink.
Market watchers predict that the massive increase in demand brought on by automakers, power storage systems and new applications will create a potential significant shortfall by 2020. It seems that few companies expected that EV manufacturers and power supply companies would reach the now massive demand for lithium this early.
Many lithium companies are seeing their share prices rising significantly with the surge in demand for new resources.