Biden signed an Executive Order setting an ambitious new target to make half of all new vehicles sold in 2030 zero-emissions vehicles, including battery-electric, plug-in hybrid electric, or fuel cell electric vehicles.
“These demand additions imply a risk that the market value of lithium could rise from $6B at present to $36B by 2030.
“Given the exponential demand growth, it is not surprising that production is reacting,” the analysts said.