By 2030, UBS predicts we’ll need a lot of manganese, lithium, cobalt, rare earths, nickel and copper if car makers are to hit some very ambitious production targets. They estimate EV penetration increasing from 4 per cent currently to 20 per cent of the market by 2025, and 50 per cent by 2030. That’s 3 million per year to 46 million per year. Meanwhile, average battery size will increase from 47kWh to 94kWh. By 2030, they also predict that: Lithium demand will lift 1100% from ~400,000 to 4.4 billion tonnes Natural graphite demand grows by 700% Demand for nickel grows from ~2.6mtpa to 5.8mtpa Rare earths neodymium ... (full story)