Help Desk -
9958816305, 9810335381
Email
Password

Lithium producers must wait as pandemic slows electric vehicle revolution

Metal News - Published on Wed, 27 May 2020

Image Source: EV Lithium
Reuters reported that the coronavirus pandemic has paused the electric vehicle revolution, forcing producers of battery metal lithium into survival mode with output cuts, expansion delays and sales of major assets. Lithium industry shares have dropped sharply since January as the economic downturn from the pandemic slammed the brakes yet again on the electrification revolution that for years has seemed just around the corner. Investors are giving the cold shoulder to mine developers seeking funding for lithium projects. The holdup will result in shortage lithium available for EV batteries when markets rebound

Lithium executives, investors and analysts expect the downturn to roil their industry for at least a year. Some warned it could crimp operations through the middle of the decade depending on how COVID-19 affects EV deployment plans from automakers.

Advisory group Morningstar had expected that global demand for lithium metal would jump 15%, but now expects a 5% drop in demand in 2020.

Reuters

Source :

Posted By : Yogender Pancholi on Wed, 27 May 2020
Related News from Metal segment