Nio’s excitement about its Tesla Model Y killer grows
The first offering from the firm’s mass-market Onvo brand is specifically targeting the e-SUV global best seller
Benchmark warns that limited supply of key lithium-ion minerals will restrict battery supply chain build-out
London-based battery supply chain analysis firm Benchmark Mineral Intelligence has a stark projection that lithium and nickel manufacturing will be unable to meet demand from battery producers, resulting in a bottlenecking of the industry’s growth.
According to Benchmark’s analysis, demand for lithium-ion batteries is expected to rise from 1TWh in 2023 to 3.7TWh by 2030, with the majority of this growth being “driven by an ever-increasing demand for EVs”. However, in order to achieve this scale, an additional $201bn is required to ramp up battery manufacturing efforts. The expansion of the global lithium industry needs $51bn alone to meet demand.
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