Electric Vehicle (EV) Sales have accelerated during this decade, and are expected to continue to exponentially grow. Several countries have stated policies that new vehicle sales will be limited to EVs only, which will be a disruptive change for the internal combustion engine (ICE) industry.

UBS projects EV sales will reach 14 million vehicles by 2025, and Bloomberg's view is for 30 million sales by 2030 and EV sales overtaking ICE sales by 2038, only 20 years away.

Lithium-ion Battery Demand will accelerate as a result of EV demand and other applications such as domestic and commercial power storage.

The IEA ‘NPS’ (New Policy Scenario) is a projection assuming current energy policies announced by world governments, whereas the ‘EV30@30’ Scenario assumes the goal of 30% EVs by 2030.

UBS, Roskill and Bloomberg projections all agree with the IEA scenarios... and then some. One thing is certain, Li-ion battery technology is a world-energy game-changer.