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Lithium-ion Battery Demand



            The electrification of transport is driving significant new metal demand





                                                                                       1
                    Global Electric Vehicle Sales & Market Share                                                            Lithium-ion battery metal demand outlook
                                                                                                                                                                                            2

          Million Vehicles                                                              Market share (%)             Million metric tons
                                                                                                                   10
          30                                                                                         20
                                                                                                                     9
                                        CAGR: ~49%                           CAGR: ~30%              18              8
                                         (2012 – 2021)                         (2021 – 2025)
          25                                                                                                         7
                                                                                                     16              6

                                                                                                                     5
                                                                                                     14
          20                                                                                                         4

                                                                                                     12              3
                                                                                                                     2
          15                                                                                         10              1

                                                                                                                     0
                                                                                                     8                   2020         2022e        2024e         2026e         2028e        2030e

          10                                                                                                                     Cobalt              Nickel            Lithium              Copper
                                                                                                     6


                                                                                                     4                                                                                        2
           5                                                                                                                 Forecast EV Demand growth 2022 – 2030e
                                                                                                     2


           0                                                                                         0                         Ni     ▲4x                Li      ▲6x               Cu  ▲4x
              2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

                    Others      China       United States       Europe       Global market share


            1.   Source IEA (2022), Electric cars fend off supply challenges to more than double global sales, IEA, Paris https://www.iea.org/commentaries/electric-cars-fend-off-supply-challenges-to-more-than-double-global-salessupply
            2.   Source: Bloomberg NEF – July 2022                                                                                                                                                           5
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