Sector Report

Global automakers – Another new hat

by Christopher Richter / May 17, 2023


Car companies don mining garb amid rush for resources

With electrical vehicle (EV) demand soaring and legal mandates biting, automakers are looking to secure associated minerals, particularly lithium. Having looked at how lithium is mined and compared demand and supply, we conclude a deficit is coming, as have carmakers, which are now racing to invest in lithium resources.

More than half of global car sales will be EVs by 2030

Exponential growth of EV sales worldwide, accompanied by a strong push to achieve zero vehicle emissions, has created a mad rush to build EV assembly plants and battery factories. By 2030, we believe 58% of new global vehicle sales will be electric. Regulations mandating local assembly and sourcing add to the complexity.

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