Instead of 2-3 million tonnes per annum of lithium carbonate equivalent demand, UBS believes somewhere around 5.8Mt will be the more accurate number.
For two fundamental reasons.
One, EV penetration, with UBS seeing that number at 25% by 2025 and 54% by 2030.
And two, average battery size.
UBS claims to have “street leading views” on the subject, though it concedes its forecasts are not without risk.
The extract of the UBS report seen by MNN did not contain supply or price forecasts.
Meanwhile, still in the lithium world, it has been reported that Chile wants to set up a state company to get involved with producing the stuff.
That is already the situation in the copper sector with the sliver of a South American country owning the largest copper producer in the world, Codelco.
