Electric vehicles could be one of the hottest investments of the decade. All with an accelerating push for more EVs on the road all around the world. However, there’s a severe, urgent issue that could put the brakes on it all. One that needs to be solved yesterday.
Fact is, the world could run into a major deficit of about 500,000 tons of graphite by 2026. Without enough, it could also put the brakes on the industry. After all, graphite is an essential material used for producing the anode of lithium-ion batteries using in electric vehicles and energy storage. Every EV on the road uses 70kg of spherical graphite.
In 2019, approx. 200,000 tons was required for EVs. By 2026, EVs could consume approx. 700,000 tons of spherical graphite will be needed a year. Without enough supply, it could put the brakes on major EV developments from companies such as General Motors, Tesla, Li Auto, and Workhorse Group.