Capacity in the current lithium-ion battery chemistries will continue to increase in the years ahead while new technological developments will lead to the creation of new types of batteries, according to William Adams, Fastmarkets' head of battery raw materials research.
Lithium is a key ingredient in the manufacturing of batteries for electric vehicles (EVs) and energy storage systems (ESSs), and lithium demand for both uses is expected to soar in coming years with the shift to a greener economy gaining pace."We're at the very early stages of this electrification era, and I think the market is going to grow rapidly. It's not just about EVs; it is also about ESS... There will be room for all the battery technologies...