Slow take-up of electric vehicles is turning lithium dreams into dust. Trade wars and geopolitical uncertainty have made 2019 a challenging year for commodities investors in general. However, few resources have been trickier to fathom, or more unpredictable, than cobalt and lithium. Before the advent of modern electric vehicles (EV), lithium was known for decades as a medicinal cure for depression. But plummeting prices have given investors in the commodity – which is a crucial raw material in the manufacture of high-powered lithium-ion EV car batteries – the blues. Lithium carbonate prices assessed by S&P Global Platts have tumbled more than 20pc this year to around $10,000 per metric tonne amid a global glut of supply, which has outstripped demand for EVs. Once dubbed the new “white gold” when prices peaked at a record $25,000 per metric tonne in 2017, lithium is now being branded “white dust” by some companies burned after getting carried away by over-investing in its large-scale production and processing. “Lithium supply is growing far quicker than lithium demand and this can be said for all battery materials as the EV pick-up rate is not expected to really start increasing until the early to mid-2020s,” says Marcel Goldenberg, manager metals and derivatives at S&P Global Platts. Investment bank Morgan Stanley now forecasts prices could fall by a further 30pc through to the end of 2025 as suppliers race to bring on new production and refining capacity.
Telegraph 30th Aug 2019 read more »
The Isles of Scilly Council is preparing for the islands to become a leader in electric vehicles, with plans for solar-powered EV charging, ‘vehicle to grid’ charging, and an electric car club. The island’s EV project has three workstreams: installation of 27 electric vehicle charge points, of which ten will be bi-directional ‘vehicle-to-grid’ (V2G) chargers; up to ten solar canopies at charging stations with 40kW of photovoltaics (PV).
Transport Extra 30th Aug 2019 read more »