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Why the world must have more lithium supply

The world could soon run into a massive lithium supply crunch.

All thanks to the electric vehicle boom that shows no signs of slowing down. In fact, we can see just how enthused EV investors have become by looking at stocks, like Tesla and Nio. While the pandemic has slowed growth, EV demand is only expected to accelerate.

In fact, according to Bloomberg New Energy Finance, as noted by Forbes, “Sees improved batteries, more readily available charging infrastructure, new markets, and price parity with internal combustion engine (ICE) vehicles as major drivers. The study finds that EVs will hit 10% of global passenger vehicle sales by 2025, rising to 28% in 2030 and 58% in 2040.”

Cadence Minerals plc (LON:KDNC) provides mining services. The Company focuses on finding lithium and other technology minerals in new places, as well as offers extracting services.