📊 EV’s Charts of the Week #83

Hi, I’m Azeem Azhar. I convene Exponential View to help us understand how our societies and political economy will change under the force of rapidly accelerating technologies. Every Wednesday, I do this through Charts of the Week.

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DEPT OF THE ENERGY TRANSITION


The electric feel takeover
‌Goldman Sachs forecasts a ten-fold increase in battery demand, an increase from their previous estimations. Although there are a range of challenges (e.g. supply chain complexity), the bank believes that this demand will be met and that innovations will continue to drive the price down.‌

Drivers are the key drivers
‌This increase in battery demand is mostly due to the rise of electric vehicles. And more batteries mean more raw materials, in particular, lithium. ‌‌Lithium demand is growing more slowly than battery demand because of improvements in battery chemistry. Some have a higher energy density, some use fewer tricky metals like cobalt or rare earths, and some are cheaper.‌

Source: BloombergNEF

Blighty’s million model milestone
‌This shift is happening globally, albeit along different timelines. In the UK, we’re about to get our millionth EV registration.‌

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