, that analyzes the surge in battery raw material demand in the near future. The answer to the question “Can the mining industry keep up?” is a qualified “yes.” It may be a bumpy road with supply constraints affecting the commodity price.supply will be under strain until 2026, producing price volatility.
“From 2022 to 2032 the global battery market for EVs will grow from 450GWh of capacity to 2,340GWh, fuelled by regional bans on ICE vehicle sales in China and Europe, leading up to that point.” Ford, the second largest producer of EVs in the US has established a subsidiary to cooperate with Chinese-owned CATL. “Ford has discussed at length with the Department of Commerce exactly what is permitted under the rules of the IRA, so as to be able to fully utilize available subsidies while working alongside CATL despite the obvious conflict of interest regarding Chinese ownership.