NZ Autocar
No Result
View All Result
  • Home
  • News
  • Reviews
  • Electric
  • Industry
  • Bikes
  • Classics
  • Motorsport
  • Prices
    • New Bike Prices
    • New Car Prices
    • Make
      • Alfa Romeo News and Reviews
      • Aston Martin News and Reviews
      • Audi News and Reviews
      • Bentley News and Reviews
      • BMW News and Reviews
      • BYD News and Reviews
      • Chevrolet News and Reviews
      • Citroen News and Reviews
      • Cupra News and Reviews
      • Ferrari News and Reviews
      • Fiat News and Reviews
      • Ford News and Reviews
      • GWM News and Reviews
      • Haval News and Reviews
      • Honda News and Reviews
      • Hyundai News and Reviews
      • INEOS News and Reviews
      • Isuzu News and Reviews
      • Jaguar News and Reviews
      • Jeep News and Reviews
      • KIA News and Reviews
      • Lamborghini News and Reviews
      • Land Rover News and Reviews
      • LDV News and Reviews
      • Lexus News and Reviews
      • Lotus News and Reviews
      • Mahindra News and Reviews
      • Maserati News and Reviews
      • Mazda News and Reviews
      • McLaren News and Reviews
      • Mercedes-Benz News and Reviews
      • MG News and Reviews
      • MINI News and Reviews
      • Mistubishi News and Reviews
      • Nissan News and Reviews
      • Omoda News and Reviews
      • Opel News and Reviews
      • Peugeot News and Reviews
      • Polestar News and Reviews
      • Porsche News and Reviews
      • RAM News and Reviews
      • Renault News and Reviews
      • Skoda News and Reviews
      • SsangYong News and Reviews
      • Subaru News and Reviews
      • Suzuki News and Reviews
      • Tesla News and Reviews
      • Toyota News and Reviews
      • Volkswagen News and Reviews
      • Volvo News and Reviews
  • Subscribe
    • Print
    • Digital
  • Contact us
    • Contact us
    • Advertise
NZ Autocar
No Result
View All Result
Home Electric

World’s lithium mines struggling to keep up with global EV demand

Words: Matthew Hansen

by Matthew Hansen
October 11, 2021

Interest in electric vehicles is surging at the minute. New Zealand has just recorded its biggest month in history for plug-in sales, Norway is approaching a situation where almost 100 per cent of its new passenger-vehicle sales are EVs, and seemingly every week a legacy carmaker is announcing its commitment to electrification.

All of this is placing added strain on the lithium mining market. According to a report from Bloomberg, there’s concern that lithium miners soon won’t be able to quench customer thirst, as the need for batteries grows. 

The report notes that, according to the Benchmark Mineral Intelligence index of lithium carbonate and hydroxide, pricing for the material has doubled in the last 12 months (admittedly following a fairly big dip). 

Exactly how much is this pricing? Well, in a recent sale, Pilbara Minerals Ltd auctioned off 8,000 tonnes of spodumene concentrate, a form of processed lithium, for US$2,240 per tonne. The same sale was tendered for US$1250 a tonne in July.

“The financing for lithium projects is still too little, too late. The market deficit is already occurring,” Cameron Perks, an Australian-based minerals analyst at BMI, told Bloomberg.

“As prices increase now, there will be unknown yet-to-be-announced projects and expansions that will help to increase supply to meet demand. That is almost a certainty. What is not certain is just how many unknown projects there are out there.

“There’s also a possibility that not enough lithium can be mined, then it could risk a slower EV roll-out.”

The news is a further blow to manufacturers, who are currently trying to find ways to make electric vehicles cheaper in a hurry. Currently, the cheapest electric vehicle sold new locally is the $48,990 MG ZS EV. It’s priced at almost twice the price of the vehicle it’s based on.

Previous Post

Royal Enfield Twins Add Pizzazz for 2022

Next Post

Electric vehicles now approved for local motorsport events

ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
Free NZ Autocar Enewsletter
ADVERTISEMENT
ADVERTISEMENT
NZ Autocar is New Zealand’s leading automotive magazine. Delivering news reviews from the automotive world, including commentary from leading automotive writers and covers the scope of motoring including new cars, classic cars, EVs and motorbikes.

Our team

Publisher: Mark Petch
General Manager: Gavin Shaw
Editor: Kyle Cassidy
Senior Editor: Peter Louisson
News Editor: Harrison Wade
Art Director: Alex Schultz
Photographer: Isaac Western

To Subscribe

nzautocar.subscription.co.nz

Contact Us

Advertising:
Gavin Shaw
[email protected]
.
Editorial:
Kyle Cassidy
[email protected]
.
NZ Autocar
PO Box 44 304
Point Chevalier
Auckland 1246
New Zealand

Categories

Useful Links

Home
News
Motorsport
New Car Prices
New Bike Prices
Subscriptions
Competitions
Contact Us
Advertising
Terms and Conditions

© 2021 AUTOCAR 2016 LIMITED. ALL RIGHTS RESERVED.

No Result
View All Result
  • Home
  • News
  • Reviews
  • Electric
  • Industry
  • Bikes
  • Classics
  • Motorsport
  • Prices
    • New Bike Prices
    • New Car Prices
    • Make
      • Alfa Romeo News and Reviews
      • Aston Martin News and Reviews
      • Audi News and Reviews
      • Bentley News and Reviews
      • BMW News and Reviews
      • BYD News and Reviews
      • Chevrolet News and Reviews
      • Citroen News and Reviews
      • Cupra News and Reviews
      • Ferrari News and Reviews
      • Fiat News and Reviews
      • Ford News and Reviews
      • GWM News and Reviews
      • Haval News and Reviews
      • Honda News and Reviews
      • Hyundai News and Reviews
      • INEOS News and Reviews
      • Isuzu News and Reviews
      • Jaguar News and Reviews
      • Jeep News and Reviews
      • KIA News and Reviews
      • Lamborghini News and Reviews
      • Land Rover News and Reviews
      • LDV News and Reviews
      • Lexus News and Reviews
      • Lotus News and Reviews
      • Mahindra News and Reviews
      • Maserati News and Reviews
      • Mazda News and Reviews
      • McLaren News and Reviews
      • Mercedes-Benz News and Reviews
      • MG News and Reviews
      • MINI News and Reviews
      • Mistubishi News and Reviews
      • Nissan News and Reviews
      • Omoda News and Reviews
      • Opel News and Reviews
      • Peugeot News and Reviews
      • Polestar News and Reviews
      • Porsche News and Reviews
      • RAM News and Reviews
      • Renault News and Reviews
      • Skoda News and Reviews
      • SsangYong News and Reviews
      • Subaru News and Reviews
      • Suzuki News and Reviews
      • Tesla News and Reviews
      • Toyota News and Reviews
      • Volkswagen News and Reviews
      • Volvo News and Reviews
  • Subscribe
    • Print
    • Digital
  • Contact us
    • Contact us
    • Advertise

© 2021 AUTOCAR 2016 LIMITED. ALL RIGHTS RESERVED.