Benchmark Mineral Intelligence ~ Critical Minerals - Energy Supply Chains - From Mine to Grid #MUFC
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John Goodenough: 1922-2023
All of us in the lithium ion battery and electric vehicle industry have stood on the shoulders of giants.
Those giants: John Goodenough, Stan Whittingham, Akira Yoshino.
The passing of John Goodenough marks a moment in time for our industry to be thankful.
Thankful for this genuine pioneer who led the discovery of probably the most powerful technology to change our world and shift us away from fossil fuel dominance.
It was an absolute joy to see than John saw the beginnings of the mass commercialisation of the lithium ion battery, a generation after his groundbreaking discovery at @UniofOxford
He has created a multi-billion dollar industry.
Over the last 8 years, John had got his flowers: taking stages at the biggest industry events, world political forums and, of course, being awarded the @NobelPrize
May he rest in peace and may we all benefit from the man that changed the world.
Myself and all of Team Benchmark @benchmarkmin send our deepest condolences.
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We’ve seen this before, we will see it again. Goldman Sachs: you can’t just add up all the #lithium mine level potential & make an oversupply call
The speciality chemicals world is more nuanced than iron ore
It’s why the world doesn’t rely investment banks for research any more
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Who owns the Earth? The scramble for minerals turns critical - @thetimes ft Benchmark’s @hjesanderson
🌏 China controls the metals that are vital to the modern economy. Is the West’s fightback too late? #EV #Lithium #Cobalt #Nickel #Graphite #Manganese
thetimes.co.uk/article/who-o…
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🇺🇸 Big update to Defense Production Act:
US now expands definition of “domestic source” of battery raw materials to include UK 🇬🇧 , Australia 🇦🇺 and Canada 🇨🇦
You do get a feeling a new industrial trade bloc is forming for #EV - lithium ion battery supply chain
@benchmarkmin
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Where are lithium ion batteries made?
79% in China 🇨🇳
8% Asia (ex China)
7% Europe
5% USA
The 10 year trajectory has started to shift towards more #EV battery capacity in Us and Europe, but not by much
China still on track to dominate battery manufacturing (~70%) in 2031
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S&P 500 ESG Index removes Tesla and has added 6 oil and gas (incl transport) related companies. Highlighted with a 😇 emoji… no wonder Elon Musk is pissed. 👏 @facts_tesla
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The US DOE releases its critical mineral assessment which I broadly agree with.
Longer term is the big issue for the elements that are crucial to making the energy transition work.
For me: lithium stores energy and copper moves it.
Every other element is working around this thesis.
The big changes from short to long term assessment by the US:
🔴 Lithium goes to red
🟡 Copper goes from not critical to near critical
🔴 Graphite, cobalt, rare earths remain on red alert
@benchmarkmin
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A new serious market has emerged for lithium ion batteries: energy storage #BESS
2025 will see it become 20% of a huge 1,700GWh battery market. That’s bigger than the entire battery market in 2020/2021.
And main drivers growth isn’t just about China, it’s in the US as well.
It’s not just about EVs any more…
@benchmarkmin
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The beginnings of sodium ion batteries
“Sodium ion’s 2030 pipeline capacity is now at 152 gigawatt-hours, and layered metal oxides will be used as the cathode for 76% of this - @benchmarkmin”
source.benchmarkminerals.com…
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The cost of lithium ion batteries is plateauing.
The easier economies have been met thru Giga scale, now the limiting factor on supply chain is mining & refining.
Up to 80% BOM cost is minerals, metals, chemicals. @benchmarkmin
To dominate EVs and batteries, you need mining
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Lithium ion battery manufacturing at Tesla’s Fremont, CA plant. Cool video from @Tesla @elonmusk
The winding is the best bit! @benchmarkmin
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🚨 Lithium ion battery prices fall to their lowest point ever - Benchmark @benchmarkmin 🚨
•Benchmark Lithium ion Battery Cell prices have fallen to $66.5$/kWh in September (Benchmark’s Global Weighted Average); falling just shy of 20% this year
•The biggest story is LFP falling to below the sixty-dollar mark to $59/kWh driven by rock bottom lithium prices; this is down from $96.2/kWh at the same time in 2023
•LFP prices have been quoted as low as $45/kWh with the lower end of the market in the sub-50-dollar range
When batteries become cheaper, more application emerge - especially the true beginning of the large scale energy storage market in 2024
With key battery raw materials all low, especially lithium, this trend won’t last forever.
Controlling the battery supply chain from cell all the way upstream to the mine is crucial to dominance in this lithium ion battery era.
This will be one of the biggest talking points at Benchmark Week in LA, 12-14 Nov > benchmarkevents.benchmarkmin…
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What western economies are only beginning to recognise is that in the electric vehicle and battery supply chain they are the developing nation and China is the developed nation. #EV @benchmarkmin
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Why lithium isn’t going into oversupply anytime soon - @benchmarkmin note
Some good basics to bear in mind when looking at #lithium , despite Goldman Sachs & now Credit Suisse notes.
Free to read:
benchmarkminerals.com/member…
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When automakers become miners…
A huge moment for the US as GM invests $650m in Lithium Americas to accelerate Thacker Pass.
As the battery and EV space begins to scale, financing needs to do so with it.
This is a much needed big step up for our industry.
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Within the space of 12 hours you had the top of US Government 🇺🇸 and European Union 🇪🇺 talking about the need to build lithium ion batteries and secure supply of raw materials, especially lithium
How things can change so quickly in our industry ... @benchmarkmin
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Tesla to build lithium hydroxide refiner in Texas to feed Terafactory; first automaker to enter lithium (Exclusive) | Benchmark Mineral Intelligence benchmarkminerals.com/member…
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Benchmark Lithium prices - Battery Grade, EXW China @benchmarkmin
Nov 2018 $11,875
Nov 2019 $7,950
Nov 2020 $6,100
Today $30,025
Structural shortage is set to hit in 2022.
Lithium carbonate prices are at all time highs but easy to see them soar above $40k in 2022
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Global battery production is set to surpass one terawatt-hour for the first time in 2023 - a 500% increase since 2018. @benchmarkmin data
The lithium ion battery has shifted from start up to scale up. #EV
source.benchmarkminerals.com…
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If EVs are lithium ion batteries then EVs are minerals, metals & chemicals
Gigafactories are getting bigger and bigger and consume multiple mines worth of raw material each year
Once the auto industry becomes fully in tune with this bedrock principle, change will happen quick
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It takes 3 years to building a Gigafactory but 7 years to build a lithium mine.
The great raw material disconnect will continue until the ultimate end users invest in infrastructure to make the product they will need.
Tens of billions of dollars needed short term. #EV
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Lithium ion battery prices are going up for the first time. Some said it would never happen. #EV
But rising lithium prices are the cause.
172% increase in Benchmark Lithium Price Index since this time in 2021 says it all
Automakers to take the hit
More TBA @benchmarkmin
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There are lots of different electric vehicles with lots of different lithium ion battery types.
Each battery type impacts critical mineral demand differently.
@benchmarkmin infographic outlined this trend nicely from @Tesla Semi to Ford F-150 to Tata Motors Tiago:
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The great #EV raw materials disconnect:
“#COP26 declaration would require over 7m tonnes of lithium annually, which is 17 times more than 2021..”
“.. 5m tonnes nickel sulphate, 19 times more than in 2021.”
Free read: benchmarkminerals.com/member…
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#USAElection2024 Plot Twist.
The EV battery jobs boom will happen under @realDonaldTrump and nearly all of it will take place in Republican states.
With @elonmusk by the incoming President’s side, a #lithium and critical mineral mining renaissance to fuel this new industry could well happen.
Mining and refining returns to middle America?
The downstream EV funding will get hit hard but the job of building this new ex-China supply chain domestically is not yet complete.
It was a trend that was started in 2017 with the Trump Administration’s Executive Order on critical minerals
@benchmarkmin
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Biden Administration to commit $12.5bn dollars to building new lithium ion battery capacity in the USA.
Haven’t seen the report yet (out today) so eagerly awaiting the details.
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🚨 China and #graphite
This sums up the main issue the rest of the world faces with graphite and anode material.
There is a lot of anode capacity planned but hardly any for the rest of the world.
2023: China dominates with 93%
2035: China dominates with 90%
The issue isn’t an overall capacity and cost one but a supply security, supply quality, and a sustainability one.
As the biggest input into a lithium ion battery, If you don’t have graphite at volume and quality, your gigafactory will stall.
Localising supply chains should really start with graphite.
@benchmarkmin
Join us for Graphite + Anodes 2023 in LA, 14-16 November: benchmarkevents.benchmarkmin…
🌍 Benchmark’s Anode Price Assessment benchmarkminerals.com/price-…
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Benchmark Lithium prices continue to come off from all time highs in December, down 4% in @Benchmarkmin’s latest assessment.
Consumers are running down inventory as we enter the new year.
#EV #Battery
Get this first! Subscribe here: benchmarkminerals.com/lithiu…
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We have spent so much time, money and effort building our Forecasts division that everything published has to go thru many hurdles & be a professional, considered opinion.
Banks (high profile) should be required to do a similar amount of work before publishing.
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USA demand for critical battery raw materials as we stand at 725GWh:
Lithium 580,000 t/yr
Nickel 540,000 t/yr
Cobalt 90,000 t/y
Manganese 95k t/yr
Graphite 870k t/yr
And this will need to 3x!
Onward to #GigaAPAC Conference benchmarkminerals.com/events…
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Tesla will use prismatic battery cells for the first time in Model 3 short range for Chinese consumers. #EV
This will be made using CATL LFP cells tailor made for Model 3.
It’s the first time Tesla have expanded from cylindrical cells (18650 / 2170)
@benchmarkmin
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The downstream of the #electricvehicles #EV supply chain is growing at twice the pace of the upstream (mining and refining).
Something drastic needs to happen to close this gap if one of the key pillars of the #EnergyTransition is to exist at scale
@benchmarkmin
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excellent exclusive from @benchmarkmin @hjesanderson
Elon Musk and Tesla lay down 2TWh lithium ion battery capacity challenge to Panasonic. That’s 4X the industry’s size today
Assuming, 50% NCA 50% NCM - that’s a lot of raw materials #EV
Full story: benchmarkminerals.com/member…
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A big moment for #graphite
When critical mineral price curves move in tandem with a market of interest, institutional money takes note.
With EV battery demand to make up over 50% of the flake graphite market, everything changes.
It happened to cobalt in 2015, lithium in 2018…
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USA seeks to further isolate China from this global battery arms race with new regulation.
🔋 US sets 25% cap of Chinese ownership for the battery supply chain components.
Critical minerals, cathodes, anodes and other battery components will not be allowed to access IRA money if their suppliers are 25% or more owned by Chinese companies.
A red alert for LFP batteries, precursor materials (pCAM), high purity manganese sulphate, and graphite.
A red alert for Nickel: 82% of Indonesia’s 2024 battery nickel output will be under majority Chinese ownership.
@benchmarkmin here:
source.benchmarkminerals.com…
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Goldman Sachs Nov 2022: Lithium’s delayed decline
A change in tune and analysis since the June misjudgement, which moves lithium in their models from surplus into 84,000 tonne deficit.
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The incredible #Messi. The incredible #Mbappe. Was this the best game of all time?
I need to digest.
Pride for me to witness the second person ever to score a hatrick in a #WorldCupFinal - the first? England’s incredible Jeff Hurst 1966 🏴
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How much battery raw material will Tesla’s expanded 140GWh Gigafactory in Nevada consume each year?
A really good @benchmarkmin sketch of just how critical mineral hungry these super sized EV battery plants are.
There are 13 gigafactories in the Benchmark pipeline over 100GWh.
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The USA - China EV supply chain gap won’t be closed in a decade.
US dominance in the battery supply chain now also means engaging with Chinese companies to build domestic infrastructure
The global battery arms race has now become a supply chain race: benchmarkminerals.com/newsle…
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In response to a lot of requests: @benchmarkmin will be putting out its response to the Goldman Sachs call very soon. #lithium #nickel #cobalt
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Sodium ion batteries. @benchmarkmin latest takeaways:
🟠 sodium ion gigafactory capacity ramp up is underway in China: 10.4GWh
🟠 2024 will see a step increase in sodium ion capacity in China as it soars towards the 100GWh mark
🟠 This new capacity drive for new battery tech is being driven by tier 2 and tier 3 cell producers (67%)
🟠 Sodium ion should now be considered “near term, next generation battery technology”
source.benchmarkminerals.com…
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Lithium & Afghanistan. <thread>
Back to the future. We were discussing this in 2010.
The reality now is the same then. The potential is interesting but super long term if ever.
Lithium isn’t rare and Afghanistan has occurrences of lithium. But so does my back garden.
…
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Elon Musk (@elonmusk) either doesn’t understand the chemistry of lithium ion battery or is deliberately misleading.
> Lithium is presently 5% of a batteries cost and rising.
> Tesla has always used cobalt in their NCA chemistry
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We at the start of a new commodity super cycle:
“I’ve been doing this 30 years and I’ve never seen markets like this,”
“This is a molecule crisis. We’re out of everything”
~Jeff Currie, Goldman Sachs
bloomberg.com/news/articles/…
#lithium #nickel #cobalt #graphite @benchmarkmin
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#Lithium needs $42bn of investment to meet 2030 targets @benchmarkmin
In reality that target has already been missed considering timelines to build new lithium mines
Accounting for misfires on new lithium supply this $42bn will be closer to $70bn
benchmarkminerals.com/member…
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What we face with the global #EV battery arms race:
@benchmarkmin’s high level directional analysis >>>> close to 400 new #lithium #cobalt #nickel #graphite mines will need to be built.
This is why it’s a generational movement, not just this decade
👀 benchmarkminerals.com/member…
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Lithium analysis from big banks again is wrong and misplaced. Q1 is always soft in China
Cutting capacity? We heard that before earlier in the year and it never happened
While we no one can predict the future, those in the industry can make sensible judgements on the present
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👀 “Lithium and rare earths will soon be more important than oil and gas…”
OPINION: Europe is on a mission to secure critical minerals. Here’s three things it should do | Benchmark Source source.benchmarkminerals.com…
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Don't usually comment on Forecasts but the Morgan Stanley lithium one is ridiculous. When you understand even the basics of lithium, cathode and Battery plants, and Auto majors plans you realise the Morgan Stanley scenario has a 1% chance of happening.
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New: Benchmark forecasts that lithium will need $51bn of investment between now and 2030 to bridge the gap between EV and battery demand.
We call this gap the great raw material disconnect.
Full story: source.benchmarkminerals.com…
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We are now at 68 lithium ion battery megafactories in the pipeline. Totalling 1.45TWh / 1,450GWh. This could make 22m EVs a year by 2028. @benchmarkmin data. Slide from my BAML , New York talk on Tuesday
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Lithium sits at ~20% of the cost of a lithium ion battery BOM. New @benchmarkmin data.
Some will remember the days when #lithium was under 5% of the cost.
EV makers will need to get a grip of supply chain to drive this below 10% long term.
Priorities: Supply 1st, price 2nd
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For well over 15 years now, I’ve wanted to go storm chasing. 🌪
I finally did it thanks to these next generation legends of the industry > @StormChaseAZ @MesoMax919 @Tornado_Steejo
Chasing and racing @ReedTimmerAccu for the Kimball, NE Tornado was something special. Reed is the extreme weather king & my original inspiration for wanting to do this
Never Stop Chasing.
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Rio Tinto makes a $825m bid for Rincon Lithium.
It’s a big bid.
Let’s just say the “big one” is coming.
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Lithium prices remain sky high.
Elon Musk refines his lithium take, but is feeling squeeze on battery costs.
“I’d like to once again urge entrepreneurs to enter the lithium refining business. The mining is relatively easy, the refining is much harder”
bloomberg.com/news/articles/…
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Solid state batteries were supposed to be in EVs around now.
People overestimated the ease of their commercialisation and underestimated how good lithium ion (NCA / NCM / LFP) batteries could get.
Nothing is static. Everything is up for grabs.
‘Classic’ lithium ion is still getting better, lower cost (for now) and abundant.
@benchmarkmin
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CHART: Lithium Price Upturn: ⬆️ 41% @benchmarkmin
The lithium prices jump in China puts us back at Nov 2019 prices. It also puts an end to the consistently eroding price trend of the past 3.5 yrs
This time lithium is meeting big EV demand head on + a commodity super-cycle...
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The lithium ion battery industry is expanding by 50% this year to over 600GWh, powered by #electricvehicles #EV
The energy storage age has arrived.
@benchmarkmin
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The only way Automakers will be able to secure new long term #lithium is to own the assets.
We are now at the stage where off-takes, loans won’t be enough for most. @benchmarkmin
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🇨🇳 China moves to restrict graphite exports.
Graphite is the one critical mineral in which China has the sway of industrial power both mining, refining (production of spherical graphite) and anode making.
A rare and complete supply chain dominance for the suite of battery and EV raw materials.
This year China will produce 61% of flake graphite of 92% of anode material.
You would expect this is the trigger for the rise of anode plants outside of China…
🚨 A timely discussion for Graphite + Anodes 2023 - Benchmark Week, 14-16 November >>>>> Join us here >>>
benchmarkevents.benchmarkmin…
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#RussiaUkraineConflict - we are getting a lot of inquiries about Russia and critical minerals, esp for #ElectricVehicles & #batteries
A few @benchmarkmin facts:
#Nickel is on red alert.
Norilsk is the world’s largest class 1 nickel producer accounting for 20% of global supply
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Looks like the battery raw material class are about to get a double boost in 2021...
Column: Goldman proclaims the dawn of a new commodity supercycle @ReutersCommods
#lithium #nickel #cobalt #copper #graphite #manganese #HPA
reuters.com/article/us-metal…
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Tesla will announce 6 or 7 incremental battery improvements both on manufacturing / materials (cost) and energy density-anodes and cathodes (kWH).
Don’t be surprise if this takes Tesla’s cell cost to the $85-90/kWh range. From $97-120 today.
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Ganfeng Lithium to increase its lithium prices by 100,000 RMB / t Oct 10 to Nov 9 due to power issues and “rising costs” in China.
This will take lithium prices above $40,000/tonne mark short term, but huge jump of 60%
Learn more From @benchmarkmin > benchmarkminerals.com/lithiu…
<thread> Lithium prices.
In 2019 I was asked whether lithium prices in the next price surge would ever reach the highs of 2016.
My response was this time it would be more aggressive. Instead of the late 20s, prices in China would exceed $40,000/t
There are a few reasons…
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FINAL NUMBERS: Electric vehicle sales in full year 2024 - new data @rhomotion
2024 (v 2023 % change)
•Global: 17.1 million, +25%
•China: 11 million, +40%
•EU & EFTA & UK: 3.0 million, -3%
•USA & Canada: 1.8 million, +9%
•Rest of World: 1.3 million, +27%
Detail here: rhomotion.com/news/over-17-m…
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First lithium ion batteries. Now critical minerals.
@POTUS will today reveal US progress on securing critical mineral supply chains, 1.30pm DC
Critical minerals especially ones that feed future industries like #EV are firmly at the top of the geopolitical agenda @benchmarkmin
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Crazy to think @benchmarkmin is now tracking 379 (!) gigafactories with a potential capacity of 9.1TWh by 2035.
Easy to see how the conversation has completely shifted to critical minerals & the great raw material disconnect between mine & EV battery plant.
benchmarkminerals.com/contac…
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So a lot to digest. More fantasy and incorrect statements than reality today from Tesla’s @elonmusk
Tomorrow we unload
benchmarkminerals.com/events…
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We’ve been predicting it for years. But is it really about to start?
The beginning of a new battery powered commodity super cycle
Worth read from @aheadoftheherd_ : aheadoftheherd.com/all-signs…
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Raw materials aside (for now)…
🌎 The world will need to invest an extra $200bn in lithium ion battery cells to meet EV demand by 2030.
🇺🇸 USA will need + $70bn
🇪🇺 Europe will need +$76bn
@benchmarkmin Exclusive:
benchmarkminerals.com/member…
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Electric vehicles will be made where the batteries are made.
The UK 🇬🇧 has been too slow in attracting tier one lithium ion battery makers.
🇨🇳 BMW moves electric mini production to China >
telegraph.co.uk/business/202…
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2 mnths on from Goldman Sachs debacle, Benchmark lithium prices have been steady to rising.
Volatile? Most certainly. But sky high and volatile is the trend.
If anything competition for future lithium supply has intensified as OEMs step up their strategies…
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Passed! Huge for USA and lithium ion battery to #EV supply chain in North America.
“We will get America off the sidelines on manufacturing solar panels, wind farms, batteries, and electric vehicles to grow these supply chains” whitehouse.gov/briefing-room…
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#Lithium and our company is front page news in the Wall Street Journal @WSJ
So proud to be part of this lithium industry since 2006. We have all worked so hard. The future is now.
TY to Michael Wilson of Prince Intl Corp for capturing this. 👊 #TeamBenchmark @benchmarkmin
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The cost of lithium ion batteries is plateauing.
The easier economies have been met thru Giga scale, now the limiting factor on supply chain is mining & refining.
Up to 80% BOM cost is minerals, metals, chemicals. @benchmarkmin
To dominate EVs and batteries, you need mining
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It’s clear electric vehicles are going through a period of rationalisation after 2.5 years of rocket fuel growth.
Headlines of North American OEMs ‘cutting back’ EV and battery plans I see more as the realisation that:
a) this takes time to build and scale gigafactories
b) the base battery raw material supply let alone critical mineral supply chains will not be there
So the ‘cut backs’ are more a revision of fantasy numbers that were never going to happen in the first place.
At the same time, all key battery materials - #lithium #nickel #cobalt #graphite - are all falling / low price environments.
This means battery cell prices are getting cheaper: the @benchmarkmin Global Weighted Average Cell Prices is now at $91.2/kWh
At the same time batteries are getting better and abundant.
This means more choice and cheaper EVs are on their way and the cycle begins again.
benchmarkminerals.com/lithiu…
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If electric vehicles are lithium ion batteries then electric vehicles are mining.
This wasn’t the case in 2015 when the bill of materials was circa 40% of total cell cost.
In 2022, this is 70-80%. @benchmarkmin
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As lithium ion batteries enter the era of politics and policy, it’s worth reflecting on how far we’ve come in 10 years.
In 2014, lithium ion batteries were $400/kWh average
In 2024, battery batteries are now $78/kWh average. @benchmarkmin data
The low raw material price environment - especially lithium and nickel - has helped push down prices to all time lows.
Yet we are now entering the era of agressive government policy especially the US in a bid to level a playing field in which China is dominating.
The era of ‘politics as usual’ is now upon us and will be the most dominant factor shaping the industry over the next few years.
The technology works. The industry supply chain has scaled. What happens next will define the future of the auto industry and how we use energy on a daily basis.
Benchmark’s Giga USA 2024 begins tomorrow in Washington DC: benchmarkevents.benchmarkmin…
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BP citing our lithium prices in their Statitsical Review of Energy 2018 is the first time big oil has publicly acknowledged lithium. We are in a new era for commodities
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OPINION: Election plot twist: Trump and Musk to oversee great US battery boom in red states
“Batteries mean mining.
Elon Musk famously called lithium mining “a licence to print money”.
He has been preoccupied with lithium mining for well over a decade now flirting with major acquisitions and resulting in Tesla building its own lithium refinery in Texas.
This could be a sign of what is to come on a giga-scale.”
Read here: source.benchmarkminerals.com…
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Lithium prices cont to nudge up on the latest Benchmark price assessment cycle. @benchmarkmin
Lithium Carbonate up 317% in last 12 months.
Lithium Hydroxide up 193% in last 12 months.
The biggest supply squeeze is yet to come. Onward to 2022 we go… benchmarkminerals.com/lithiu…
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Lithium ion battery supply chain’s double digit paradox in 2019 @benchmarkmin
Price Demand
Lithium -12% +18%
Nickel +35% +30%
Cobalt -15% +12%
Cathodes -10% +5%
Anodes -8% +20%
Battery Cell -21% +24%
EV Down? +8%
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#lithium prices by @benchmarkmin
Lithium carbonate in China cont to rise 10% to an av of $60,600/t, a high of $63,900/t
Sustained high prices push up industry av over time.
We are comfortably 17 months into this new lithium bull market. No sign of it running out of steam
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#Graphite - biggest input into a lithium ion battery by some way
Below: first 2 links in the graphite to #EV supply chain. Flake > Uncoated Spherical
China is still the biggest producer of graphite and dominates over 90% of anode output.
TBD Perth 🇦🇺 events.benchmarkminerals.com…
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<thread> Lithium prices.
In 2019 I was asked whether lithium prices in the next price surge would ever reach the highs of 2016.
My response was this time it would be more aggressive. Instead of the late 20s, prices in China would exceed $40,000/t
There are a few reasons…
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Thanks to Tesla and @elonmusk sparking a lithium ion battery arms race, In 4 years we have gone from
This ... .... to this
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We are now at 91 lithium ion battery megafactories in the pipeline to 2028 #EV
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Lithium ion batteries keep getting cheaper…
From $290/kWh in 2014 to $78/kWh in 2024…
@VisualCap x @benchmarkmin
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It’s official: we are now at 200 #EV battery megafactories / gigafactories in the pipeline - @benchmarkmin
But how much lithium, graphite, cobalt, nickel, cobalt, manganese will this need? a lot
👀 benchmarkminerals.com/member…
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Feels like a coming of age moment for the North American lithium ion battery and #EV supply chain
Benchmark’s #GigaUSA event next Thursday / Fri in DC 🇺🇸
From Senators to @WhiteHouse to @GM @Tesla @Rivian @VW @AlbemarleCorp @RedwoodMat @JigarShahDC + +
benchmarkminerals.com/events…
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The four horseman of the ICE Apocalypse:
Lithium: leading charge
Graphite: Unappreciated dark horse
Cobalt: Bad rep but critical to trio
Nickel: a leader but trying to eliminate cobalt
Coal+Oil: dying a death
ICE House Built: knocked down
@TyDinwoodie @benchmarkmin
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The EV lithium ion battery industry has already grown an order of magnitude since 2010.
Starting now, it has to do it all over again.
And it’s clear there is nowhere near enough capacity in pipeline. (50m EVs by 2030)
The global battery arms race will continue @benchmarkmin
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