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Lithium-ion Battery Demand
Substantial growth expected
Lithium-ion battery demand
outlook (GWh/year) 1
GWh/year
3,000
Lithium-ion battery demand set to
2,500
increase 5x over the next decade
2,000
1,500
Passenger vehicle electrification is
the primary driver 1,000
500
0
Passenger EVs Commercial EVs
Electric two-and three-wheelers Stationary storage
Consumer electronics E-buses
1. Source: Bloomberg NEF
5

