Why The EV Industry Has A Massive Supply Problem
The United States has a lithium supply problem. Lithium-ion batteries are in everything we use — in phones, laptops, tablets, cameras and increasingly cars. Demand for lithium-ion batteries has risen sharply in the past five years and is expected to grow from a $44.2 billion market in 2020 to a $94.4 billion market by 2025.
This is largely due to the boom in electric cars. Nearly every major automaker has announced a transition to electric vehicles. Tesla delivered almost one million cars in 2021, and electric vehicle companies like Rivian and Lucid are rolling new models off the line. In order to power all of these EVs, we will need batteries, lots of them. Electric vehicle growth will be responsible for more than 90% of demand for lithium by 2030, according to Benchmark Mineral Intelligence. This vital mineral in rechargeable batteries has earned the name “white gold” and the rush is on.
Former Tesla CTO and Elon Musk’s right-hand man, JB Straubel, started Redwood Materials in 2017 to help address the need for more raw materials and to solve the problem of e-waste. The company recycles end-of-life batteries and then supplies battery makers and auto companies with materials in short supply as EV production surges around the world. Straubel gave CNBC an inside look at its first recycling facility in Carson City, Nevada.
Cobalt also deserves a lot of attention because it is one of the most expensive materials found in lithium-ion batteries. Cobalt extraction is largely concentrated in the Democratic Republic of Congo, where it is linked to human rights abuses and child labor, while cobalt refinement is almost exclusively done in China, making cobalt part of a tenuous supply chain. These are some of the reasons why battery manufacturers like Samsung and Panasonic and car makers like Tesla and VW, along with a number of startups are working to eliminate cobalt from lithium-ion batteries completely.
Segments:
00:00 -- How Tesla’s Battery Mastermind Is Tackling EV’s Biggest Problem
18:31 -- Why The U.S. Has A Massive Lithium Supply Problem
34:39 -- How Removing Cobalt From Batteries Can Make EVs Cheaper
» Subscribe to CNBC: https://cnb.cx/SubscribeCNBC
» Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision
About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more.
Connect with CNBC News Online
Get the latest news: https://www.cnbc.com/
Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC
Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC
Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC
Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC
#CNBC
Why The EV Industry Has A Massive Supply Problem
Видео Why The EV Industry Has A Massive Supply Problem канала CNBC
This is largely due to the boom in electric cars. Nearly every major automaker has announced a transition to electric vehicles. Tesla delivered almost one million cars in 2021, and electric vehicle companies like Rivian and Lucid are rolling new models off the line. In order to power all of these EVs, we will need batteries, lots of them. Electric vehicle growth will be responsible for more than 90% of demand for lithium by 2030, according to Benchmark Mineral Intelligence. This vital mineral in rechargeable batteries has earned the name “white gold” and the rush is on.
Former Tesla CTO and Elon Musk’s right-hand man, JB Straubel, started Redwood Materials in 2017 to help address the need for more raw materials and to solve the problem of e-waste. The company recycles end-of-life batteries and then supplies battery makers and auto companies with materials in short supply as EV production surges around the world. Straubel gave CNBC an inside look at its first recycling facility in Carson City, Nevada.
Cobalt also deserves a lot of attention because it is one of the most expensive materials found in lithium-ion batteries. Cobalt extraction is largely concentrated in the Democratic Republic of Congo, where it is linked to human rights abuses and child labor, while cobalt refinement is almost exclusively done in China, making cobalt part of a tenuous supply chain. These are some of the reasons why battery manufacturers like Samsung and Panasonic and car makers like Tesla and VW, along with a number of startups are working to eliminate cobalt from lithium-ion batteries completely.
Segments:
00:00 -- How Tesla’s Battery Mastermind Is Tackling EV’s Biggest Problem
18:31 -- Why The U.S. Has A Massive Lithium Supply Problem
34:39 -- How Removing Cobalt From Batteries Can Make EVs Cheaper
» Subscribe to CNBC: https://cnb.cx/SubscribeCNBC
» Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision
About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more.
Connect with CNBC News Online
Get the latest news: https://www.cnbc.com/
Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC
Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC
Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC
Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC
#CNBC
Why The EV Industry Has A Massive Supply Problem
Видео Why The EV Industry Has A Massive Supply Problem канала CNBC
Показать
Комментарии отсутствуют
Информация о видео
Другие видео канала
Who Is Winning The Global EV Race?Secretive Giant TSMC’s $100 Billion Plan To Fix The Chip ShortageWhy Global Supply Chains May Never Be the Same | A WSJ DocumentaryWhat’s Reshaping Florida, California And New York?Why The EV Industry Faces A Global Nickel ShortageSolar 3.0: This New Technology Could Change EverythingWhy The World Relies On ASML For Machines That Print ChipsThe Big Business Of Energy For The EV IndustryWhy The U.S. Is Running Out Of EverythingIs The U.S. Top Bank About To Start A Recession?Lack of new construction and corporate landlords contributing to skyrocketing rentWhy Starship Is The Holy Grail For SpaceXHow China Plans to Win the Future of EnergyEverything You’ve Heard About Electric Cars is a Lie, Here’s the TruthHow There Could Finally Be A Cure For DiabetesThe Lucid Air is a time machine — Jason Cammisa on the ICONS Ep. 06 — Full Review and Track TestHere’s Why Charging an Electric Car Can Suck - And It’s Not The Reason You Think!Evergrande: the end of China's property boom | FT FilmHow Jaishankar ripped ‘campaign’ against India over Russian oil imports; 'Europe biggest buyer'Why GM Ditched Heated Seats In The Middle Of Winter