Supply Chain Insights

Nickel: Demand 6X by 2030, outweighs supply

Lithium: Demand 5X by 2030, outweighs supply

Cobalt supply and demand projections (tons)

Refined nickel supply and battery demand projections (kton)

Global lithium supply and demand projections

Source: Investor Intel

Source: Roskill

Source: Bloomberg

With battery prices falling year on year in the last decade on route to $100/kWh, battery prices have reversed direction abruptly due to material shortages with BYD reporting +20% in their battery prices starting November 2021. Automakers (e.g. Tesla, VW, Daimler) are switching to iron-based cathodes due to the abundance of material and fewer supply shortages. 49

Industry Source: Investor Intel, Roskill, Bloomberg

Extracted from the PDF; charts and images may read imperfectly.