Recently, investments in environmentally friendly electric vehicles have increased considerably. So much so that all automobile companies are trying to keep up with this revolution. However, according to the report published by GlobalData, the electric car revolution may stop. Lithium scarcity will be the biggest obstacle to the spread of electric vehicles.
Tesla faces lithium battery shortage
Tesla, whose CEO is Elon Musk, the richest person in the world, continues to make a name for himself recently. The company reached 1 trillion dollars a month ago, taking the title of the most valuable of automobile companies. The chip shortage in the automobile world also caused some problems for Tesla. However, according to the latest developments, the chip issue is not the only problem waiting for the company. The report published by GlobalData seems to put the company in a very difficult situation. The following statements were included in the published report;
The electric car industry in Europe and America will have to face rising battery costs from rising lithium prices over the next decade. Adoption of electric cars will likely be slower than expected if the costs are passed on to the consumer.
According to the report, a battery shortage may stop the company’s production of vehicles worth $25,000 or less. Tesla has not yet made a statement on the subject. According to the International Lithium Association (ILiA) and the International Energy Agency (IEA), natural lithium minerals are found in many countries, including Australia, Chile, Argentina, Bolivia, China, Brazil, Zimbabwe and Portugal.
However, considering that it will take years for these reserves to be processed at full capacity, widespread use of electric vehicles in the near future seems very difficult. According to the report, the need for lithium batteries in electric vehicles by 2030 is 40 times more than the lithium that can be produced. According to Reuters, last year lithium demand was about 320 thousand tons and is expected to reach 1 million in 2025 and 3 million in 2030.
Lithium battery shortage will change the balance in the Bitcoin world
A possible battery shortage is expected to affect the Bitcoin exchange as well. Tesla is the second largest Bitcoin holding. Tesla can sell 48 thousand Bitcoins if the company production stops or slows down due to the lithium battery shortage. This translates to approximately $3.17 billion in sales.
Do you think that the lithium battery shortage that may occur in the near future will completely prevent the spread of electric vehicles? What solutions can be used? Please share your comments and opinions with us.
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