Specifically, automotive demand for lithium is expected to surge 35% each year through 2021, according to Citigroup. Cobalt used in electric vehicles could jump 450% from this year to 2025, according to Morgan Stanley.
“I just know that’s the direction that the world seems to be going, and I’m not going to fight it,” Ralph Aldis, director of research and fund manager at U.S. Global Investors, told the WSJ.
Sales of electric and hybrid vehicles increased 50% in the first 10 months of 2017, compared to the same period year-over-year. Electric and hybrid vehicle sales are also projected to rise to 31.5 million units in 2013, compared to 1.2 million units in 2017, according to the Jefferies Group.
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