Lithium’s crown as the leading raw material in batteries for electric vehicles (EVs) – largely due to its early adoption in technology developed by Tesla – is facing increasing competition from other materials also used along with lithium in the cathode part of the battery cell. These include cobalt, manganese iron and nickel. These threats to lithium have emerged as its supply chain comes under increasing pressure and as technology continues to evolve, particularly in a drive to improve costs. This means the current makeup of EV batteries is changing. Supply-demand fundamentals of the competing EV battery materials will be important in determining which wins, as will the relative properties of the various materials and their suitability for use, but a key determinant...
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