GBReports.com quotes Toronto lawyer Paul Fornazzari in an article on lithium’s supply and demand.
“Despite volatility, the market for lithium is robust,” assessed Paul Fornazzari, partner at Fasken, observing that there is now clear and likely irreversible growth in demand for lithium as car companies, spurred by the success of Tesla, undergo a process of completely switching production to EVs or bringing out new electric car lines. “If production of EVs rises to just 30% of total vehicle production, there is not enough lithium production to meet the demand created by this growth,” he added, noting that only a relatively small amount of lithium is used in each battery and so it is unlikely to run the risk of being “engineered down” in the various battery formulations.
