28 Apr 2022 -
 General

Top expert agrees with Elon Musk: not enough lithium to meet surging demand

A mining company consultant described as “Mr Lithium” by Bloomberg doubts the lithium mining industry will be able to support all the electric car production planned.

“In the next two years, even though there will be significant growth in supply, it will be less than demand, so the gap will just continue to grow,” lithium and mining expert, Joe Lowry, recently said during an interview with Bloomberg.

Earlier this month, Tesla CEO Elon Musk tweeted about the issue, commenting on what he described as the “insane levels” of lithium prices.

Lithium prices have surged a staggering 438% above last year. The increase comes as the amount of the metal used has almost quadrupled over the last decade. But the process for extracting lithium, and a relative lack of investment, have yet to catch up with the rising demand. 

“​​There is no shortage of the element itself, as lithium is almost everywhere on Earth, but pace of extraction/refinement is slow,” Musk wrote.

To avoid electronics supply-chain disruptions, you may also wish to consult an expert in electronics component supply. With more than three decades of supply-chain expertise, Astute Electronics is ideally placed to work with you on your daily component requirements.

For more help with looking at supply chain options, contact Astute Electronics

Related News

29 Feb 2024 - General

Electronics industry optimistic: bright start to 2024

Read more

26 Feb 2024 - General

India’s WTO stance raises concerns for chip industry growth

Read more

22 Feb 2024 - General

Electronics manufacturers cautious but optimistic despite recession fears

Read more

21 Feb 2024 - General

Hidden threat: counterfeit hardware infiltrates 80% of computers

Read more

15 Feb 2024 - General

Chip rush: Global scramble for semiconductor supremacy

Read more

13 Feb 2024 - General

Foxconn faces semiconductor shortage amid ‘AI chip race’

Read more