Lithium demand will rise steeply
The major bank UBS has studied the demand for lithium, and with it the acceptance of electric vehicles. According to UBS, lithium demand will increase tenfold to around 5.8 million tons of lithium by 2030. This is because electric vehicles alone will gobble up 4.9 million tons of lithium by 2030. An important point here is the average battery size, which will account for the enormous lithium consumption. An estimated 22 percent of vehicles on the road will be electric by 2025, and about 54 perce