Jul 24, 2019

Troubles may loom for the battery supply chain for electric vehicles

Expand chart
Data: Wood Mackenzie; Chart: Axios Visuals

There could be a "supply crunch" for cobalt, lithium, and nickel used in batteries for electric vehicles and other applications as soon as the mid-2020s, the consultancy Wood Mackenzie said Wednesday.

The big picture: The chart above shows their projections of demand for materials used in EVs but also batteries needed for consumer electronics and energy storage.

What's next: Wood Mackenzie forecasts that pure electrics and plug-in hybrids combined will account for 7% of all passenger car sales by 2025, 14% by 2030 and 38% by 2040.

  • Of note: That's less bullish than BloombergNEF, which sees EVs accounting for 57% of passenger car sales in 2040.

The bottom line: "The electrification of transport is redefining a number of metals markets," Wood Mackenzie said in a release summarizing their analysis.

What they're saying: Wood Mackenzie research director Gavin Montgomery said battery supply chains could be among the challenges for long-term EV adoption.

  • "It’s true that most automotive manufacturers plan to go completely electric by 2050. However, unless battery technology can be developed, tested, commercialised, manufactured and integrated into EVs and their supply chains faster than ever before, it will be impossible for many EV targets and ICE bans to be achieved — posing issues for current EV adoption rate projections," he said in a statement.

Go deeper ... Report: Tesla is prototyping its own batteries

Go deeper

Italy reports lowest number of new coronavirus cases since February

Italy’s aerobatic team Frecce Tricolori fly over Milan in Duomo Square on May 25. Photo: Francesco Prandoni/Getty Images

The Italian government reported 300 new cases of coronavirus on Monday, the lowest daily increase since Feb. 29.

Why it matters: Italy, the first country in Europe to implement a nationwide lockdown after emerging as a hotspot in March, appears to have finally weathered its coronavirus outbreak. Italy has reported nearly 33,000 total deaths, the third-highest total behind the U.S. and U.K.

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 2 p.m. ET: 5,453,784 — Total deaths: 345,886 — Total recoveries — 2,191,310Map.
  2. U.S.: Total confirmed cases as of 2 p.m. ET: 1,651,254 — Total deaths: 97,850 — Total recoveries: 366,736 — Total tested: 14,163,915Map.
  3. World: Top Boris Johnson aide defends himself after allegations he broke U.K. lockdown — WHO suspends trial of hydroxychloroquine over safety concerns.
  4. 2020: Trump threatens to move Republican convention from North Carolina — Joe Biden makes first public appearance in two months.
  5. Public health: Officials are urging Americans to wear masks over Memorial Day.
  6. Economy: White House economic adviser Kevin Hassett says it's possible the unemployment rate could still be in double digits by November's election — Charities refocus their efforts to fill gaps left by government.
  7. What should I do? Hydroxychloroquine questions answeredTraveling, asthma, dishes, disinfectants and being contagiousMasks, lending books and self-isolatingExercise, laundry, what counts as soap — Pets, moving and personal healthAnswers about the virus from Axios expertsWhat to know about social distancingHow to minimize your risk.
  8. Other resources: CDC on how to avoid the virus, what to do if you get it, the right mask to wear.

Subscribe to Mike Allen's Axios AM to follow our coronavirus coverage each morning from your inbox.

Updated 1 hour ago - Politics & Policy

Joe Biden makes first public appearance in over two months

Photo: Oliver Douliery/AFP via Getty Images

Former Vice President Joe Biden made his first in-person appearance in over two months on Monday to honor Memorial Day by laying a wreath at a Delaware veterans park, AP reports.

Why it matters: Biden, the Democratic Party's presumptive nominee, has taken the unprecedented step of campaigning from his home during the coronavirus pandemic, ever since canceling a rally in Cleveland on March 10.